**Constellation Real Estate Partners to Develop 240,000-SF Warehouse Near Port of Houston**
Constellation Real Estate Partners has acquired 15 acres of land at 2555 Genoa Red Bluff Road in Pasadena, Texas, where it plans to develop a 240,041-square-foot Class A industrial facility named Constellation Genoa Red Bluff. Construction on the project is slated to begin in the third quarter of 2025, with completion expected in the second quarter of 2026.
The development is strategically located in Houston’s Southeast submarket, a prime area for logistics operations serving the Port of Houston.
CBRE secured a $17.35 million non-recourse construction loan for the project, arranged by the Capital Markets’ Debt & Structured Finance team of Brian Linnihan, Mike Ryan, Richard Henry, and Taylor Crowder. The financing was provided by Texas Capital Bank.
CBRE’s Joseph Smith, Ed Frantz, and Savannah Smith will lead the marketing and leasing efforts for Constellation Genoa Red Bluff.
For those interested in gaining deeper insights into Texas real estate trends, industry leaders will gather on August 28th at Connect Texas Multifamily, a one-day event featuring discussions on development, investment, and operations across the state. The event will be hosted at The Joule in Dallas.
