Hines sold a 447,605-square-foot industrial asset to a private 1031 exchange buyer based in Fort Lauderdale, FL. The building at 13770 Industrial Rd. is situated on 41.5 acres in Houston’s 650-acre Greens Port Industrial Park on the Houston Ship Channel. The property in the metro’s southeast quadrant is 100% net leased to technology firm AFGlobal.

Todd Moore with Stan Johnson Co. represented the seller, pointing out that the location, attractive lease structure and economic fundamentals helped drive demand for the asset. “We were able to secure multiple offers from institutional and private capital geographically dispersed across the country,” he said, adding that not many Port of Houston net-lease properties make it to the market.

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