American Spectrum Announces the Sale of Beltway Industrial Park in Houston for $5.5M
American Spectrum Realty, Inc. (NYSE: AQQ) (“the Company”), a real estate investment, management and leasing company headquartered in Houston, Texas, announced today that it has completed the sale of Beltway Industrial Park, which closed on October 4, 2012.
The Company expects to recognize a gain of approximately $5.5 million before income tax expense. The Company originally acquired the 23 building industrial park in 2007. Located in Northwest Houston off of Beltway 8 and West Little York, the 389,000 square foot property consisted of office/warehouse space primarily used by light industrial tenants.
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