Nine-Building Industrial Park Going Up in North Houston

Houston – (Realty News Report) – Adkisson Group has obtained construction financing for a nine-building industrial development in North Houston.

IPA Capital Markets, a division of Marcus & Millichap serving major private and institutional clients, arranged the loan through Amegy Bank.

Cullen Atchison and Hayden Sieling of IPA worked with Amegy Bank’s Jackie Contreras and Hannah Murphy to secure the financing.

“Adkisson Group’s development experience, along with the project’s premier location and flexible design were key strengths in securing this financing,” said Atchison. “We are pleased to have secured financing with Amegy Bank that positions Adkisson to deliver a well-designed project in a highly accessible North Houston location.”

Commerce Center Industrial Park

The Commerce Center Industrial Park project, totaling 509,250 square feet, will be built on 36 acres within North Houston Commerce Business Park, a 189-acre development of Houston-based Partners Real Estate at the southeast corner of FM 1960 and Aldine Westfield Road.

Ranging from 30,000 to more than 150,000 square feet, the buildings will accommodate distribution, logistics, light manufacturing, and multi-tenant users.

Partners developed the shovel-ready business park through its Land Fund 1, launched in 2022. All of the land in Phase I has sold.

Portman, an Atlanta-based firm, kicked off the park with the acquisition of 41 acres for Gateway 1960, a 714,233-SF industrial project, its first in Houston. On another tract, a national developer plans a build-to-suit for a Fortune 50 tenant, according to Partners.

Houston’s Development Pipeline

North Houston is among the most active regions for industrial construction, accounting for 5.7 million square feet of the area total of 25.5 million square feet under construction in the Houston region in the third quarter, according to Colliers. The amount of space under construction in Greater Houston was up 12.8% over the year.

A number of big projects are underway in the North Houston region.

Lincoln Property Co. and New York Life Investment Management will develop CityNorth Industrial Park, on the former site of Greenspoint Mall. The $150 million project will have 1.2 million SF of industrial buildings.

Transwestern Investments, in a joint venture with Hanover Co., will break ground on a 749,000-SF industrial facility at Rankin Road and U.S. Highway 59, near Beltway 8 in January.

Hanover Co. teamed up with Austin-based Buchanan Capital Partners to develop North Airport Logistics Center, a 476,000-SF cross-dock building near Rayford Road and FM 1960.

Stotan Industrial is developing Stotan Crossings 45, a 345,286-SF cross-dock building at 711 Rankin Road.

Boilerplate: Adkisson Group is a privately held industrial real estate development and investment firm based in Houston. The company has expertise in speculative, build-to-suit, and design-build projects.

Feature image: Rendering courtesy Adkisson Group, IPA Capital Markets.

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