August 23, 2016
Dallas-based Lincoln Property Company, through investment advisory affiliate Lincoln Advisory Group, acquired Ellington Trade Center, a three-building, 513,800-square-foot industrial project in Houston. The seller is a partnership between Dallas-based KDC and Birmingham, AL-based Harbert Real Estate Fund III, LLC. The asset, and 18.23 acres of developable land, was purchased on behalf of an institutional client for an undisclosed price.
The 98.6%-leased center is home to such tenants as FedEx, Lennox Industrial, Goodman Distribution, SCP Distributors, E&G, Patrician Window Coverings, and Houston Chronicle Publishing.
Situated on more than 36 acres in the Southeast industrial submarket, the property is across the street from Ellington Airport, which was recently approved by the FAA as a launch site for future space flights.
HFF’s Rusty Tamlyn and Trent Agnew handled the investment transaction.
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