Agellan Commercial REIT buys Houston office building for $18.25 million

TORONTO – Agellan Commercial REIT (TSX:ACR.UN) said Wednesday it has signed a deal to buy an office building in Texas for $18.25 million.

The property is a two-storey building in Houston with 101,000 square feet of gross leasable area.

The building is 100 per cent occupied by three tenants including National Oilwell Varco, which occupies approximately 75 per cent of the property.

Agellan holds a portfolio of 23 properties primarily located in Texas, Ontario and the U.S. Midwest.