Ikea distribution center near Port of Houston swaps hands

Canada-based Pure Industrial Real Estate Trust (TSX: AAR.UN) has inked a deal to buy the newly constructed industrial buildings Ikea is leasing near the Port of Houston.

The real estate investment trust will pay approximately $63.5 million for the two buildings, which total 996,482 square feet. The deal is expected to close in March.

Click to read more at Houston Business Journal.