Investment firm buys local industrial portfolio

The 414,540-square-foot Techway Southwest industrial portfolio was sold to Cabot Properties, a private equity investment firm. The 414,540-square-foot Techway Southwest industrial portfolio was sold to Cabot Properties, a private equity investment firm. Image 1 of / 1 Caption Close Investment firm buys local industrial portfolio 1 / 1 Back to Gallery

Cabot Properties, a Boston-based private equity investment firm, has bought a 415,000-square-foot portfolio of industrial buildings in Houston, real estate service firm CBRE announced Wednesday.

Cabot bought the four-building portfolio for an undisclosed price from EastGroup Properties, a Jackson, Miss.-based investment firm.

"We are pleased to be a part of this transaction between EastGroup and Cabot as it demonstrates the continued institutional demand for quality industrial product in Houston," said Heather McClain Venegoni, first vice president at CBRE, which facilitated the transaction.

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The buildings, on Bissonet near Beltway 8, were 100 percent leased at the time of the sale.

Industrial real estate continues an exceptionally strong streak in Houston and nationwide, driven largely by demand for distribution warehouses and third party logistics operations.