Hanover Co. and Transwestern Investments have assembled six separately owned parcels near the intersection of U.S. Highway 59 and Rankin Road with plans to develop a large-scale industrial facility in Houston. The joint venture is advancing a project known as Rankin 59, which is slated to total 749,016 square feet upon completion.
According to coverage from the Houston Business Journal, Hanover is targeting a January groundbreaking for Rankin 59. The development timeline calls for construction to run through late 2027, with completion anticipated in December of that year. The project is being positioned as a modern warehouse capable of serving a range of logistics and industrial users.
Rankin 59 will be located within Houston’s north industrial submarket, an area that has seen a series of large distribution and logistics facilities over the past several years. Once delivered, it is expected to stand out by scale as one of the larger new industrial properties in this part of the metro.
The development’s significance is underscored by its comparison to a recent benchmark project. The article notes that Rankin 59 will be the largest warehouse project in Houston’s north industrial submarket since Vigavi Realty completed the WestPoint 45 distribution center in the Greenspoint area in April 2025. That earlier facility totals 728,080 square feet and reached full building occupancy shortly after completion.
WestPoint 45 was leased in its entirety by Panelmatic Electrical Solutions, which took down all 728,080 square feet three months after the project’s delivery. The rapid lease-up of that property provides recent evidence of demand for large, modern industrial space in Houston’s northern industrial corridor, especially from users that can occupy an entire distribution building.
For Rankin 59, leasing efforts are already underway well ahead of construction start. Transwestern’s Brian Gammill and Craig Bean have begun marketing the property to prospective tenants. The planned building has been designed with flexibility to serve either a single large tenant or multiple smaller users, offering layouts that can be adapted to a range of distribution, manufacturing, or light industrial requirements depending on tenant needs.
Hanover Company, which is headquartered in Houston, Texas, is leading the development effort alongside Transwestern Investments. Founded in 1982, Hanover specializes in the nationwide development of high-quality multifamily residential and industrial properties. Its involvement, combined with Transwestern Investments’ capital and advisory platform, places Rankin 59 within a broader portfolio of institutional-scale projects across the country, while keeping execution rooted in the Houston market where Hanover is based.
The new warehouse is expected to contribute meaningfully to the inventory of modern logistics facilities in Houston’s north industrial submarket once it is completed, adding another large-format option for regional and national tenants seeking contemporary distribution space with highway access.
