FedEx distribution center in Houston acquired by Los Angeles-based firm

A Los Angeles-based real estate investment firm has acquired a 534,000-square-foot distribution facility that is currently 100% leased by FedEx Corp. Cohen Asset Management paid an undisclosed amount to purchase the Park 505 at Hardy logistics facility located at 505 Aldine Bender Road in Houston. While the terms of the deal were not disclosed, the property was valued at $64.3 million as of Jan. 1, according to Harris County Appraisal District (HCAD) records. The distribution center, which was…