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Texas  + Houston-Galveston  + Industrial  | 
Lovett/PCCP combine to buy 1.4M SF Claymore portfolio

Lovett and PCCP Combine on 1.4M SF Industrial Building Buy

Houston’s Lovett Industrial and Los Angeles-based PCCP LCC have acquired The Claymoore Portfolio, a collection of 10 buildings totaling roughly 1.4 million square feet in northwest Houston. The buildings consist of two developments, Claymoore Business Park and Northwest Business Park, and range in size from 12,000 to 275,000 square feet. Claymoore Business Park features 1 million square feet of space. Northwest Business Park totals 378,900 square feet. The portfolio was 100 percent leased at the time of sale to a roster of 21 tenants.

Lovett’s Ashley Bird added, “We believe these are high quality assets in high barrier to entry locations, which we feel confident will lead to outsized rent growth over our hold period.”

Trent Agnew of JLL brokered the deal, the seller of which was not disclosed. Michael Johnson and Wally Reid, also with JLL, arranged acquisition financing through Voya Financial.


Inside The Story

Ashley Bird

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

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