Partners Capital has recently acquired 153 acres of land near Houston’s George Bush Intercontinental Airport (IAH) with plans to develop an industrial park. The purchased land is located at the southeast corner of FM 1960 and Aldine Westfield Road, just northwest of IAH. This area is one of the few remaining tracts available for development.
According to reports from the Houston Business Journal, Partners Capital intends to begin construction on this $12 million project by September 2025. With approximately 120 acres available for development, it is estimated that there will be around 1.5 million square feet of industrial space created through this project. The company plans to sell different tracts within the park to speculative developers or end users.
Currently, Partners Capital is in discussions with two potential buyers – a spec developer and a user – who are interested in purchasing portions within the industrial park.
CBRE data shows that vacancy rates in this submarket were at only 5.1% during the third quarter, which is significantly lower than Houston’s overall average vacancy rate of 6.2%. This indicates strong demand for industrial space in this area and bodes well for future success and occupancy rates within Partners’ new development near IAH.
