Lexington Realty Sells Stake in Metro Houston Office Building Leased to Dow Chemical for $192M


Dow Chemical's office building in Lake Jackson totals 664,100 square feet. (image courtesy of Kirksey Architecture/Aker Imaging and Lexington Realty Trust)

LAKE JACKSON, TEXAS — Lexington Realty Trust (NYSE: LXP) has sold its interest in an office building in Lake Jackson, a city located south of Houston, for $192 million. Built in 2016, the 664,100-square-foot building is situated on a 34.1-acre site and was fully leased to Dow Chemical, which also operates a nearby manufacturing plant, at the time of sale. The buyer was not disclosed. In announcing this news, Lexington also disclosed the purchase of a 201,784-square-foot warehouse and distribution center in Phoenix that is fully leased to an unspecified e-commerce firm.

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