Trammell Crow Company and joint venture partner Daiwa House Texas Inc. have completed the sale of Building 3 at Blue Ridge Commerce Center in Houston, Texas. The institutional joint venture disposed of the recently delivered industrial facility to Applied Optoelectronics, a publicly traded company listed on NASDAQ under the ticker AAOI. The transaction involves a modern warehouse property that has already been fully committed to a single user prior to the sale.
Building 3 is located at 16851 Blue Ridge Commerce Dr. within the master-planned Blue Ridge Commerce Center. The building totals 153,928 square feet and was sold to Applied Optoelectronics for a purchase price of $26.8 million. Applied Optoelectronics leased 100% of the facility in February 2026, positioning the company as both the sole tenant and owner-occupier of the asset following the sale.
Applied Optoelectronics is described as a leading provider of advanced optical and HFC networking products that support artificial intelligence applications. Its full-building lease at Building 3 underscores the propertys suitability for high-technology and infrastructure-intensive users, while the follow-on acquisition converts that leasehold position into direct ownership of the underlying real estate.
Building 3 was delivered in the fall of 2025 as part of Phase I of Blue Ridge Commerce Center. Phase I brought a total of five warehouse buildings to the market, with a combined footprint of 1.35 million square feet. Since Phase I was completed, four of those buildings have been sold to owner-occupiers, indicating that users have been active buyers of industrial space within the project. Building 3 is one of the assets that has followed this owner-user trajectory.
Within Phase I, Building 2 remains the lone vacant opportunity, according to the joint venture. That asset is a 157,626-square-foot front-load warehouse building that is still available for lease or sale. Its availability provides one of the remaining options for users seeking to locate within the established portion of Blue Ridge Commerce Center.
Beyond the first phase, Trammell Crow Company and Daiwa House Texas Inc. have launched the next stage of the project. The partners broke ground on Phase II of Blue Ridge Commerce Center last month. This second phase will comprise three new Class A+ industrial buildings totaling 687,338 square feet. The development team has scheduled Phase II for delivery in spring 2027, which will add further modern warehouse inventory to the Houston industrial market once complete.
With multiple buildings from Phase I already sold to owner-occupiers and additional Class A+ space now under construction, Blue Ridge Commerce Center continues to evolve as a hub for users requiring high-quality industrial facilities in Houston. The sale of Building 3 to Applied Optoelectronics, on the heels of the companys full-building lease, aligns with that broader pattern of user-driven investment and expansion at the project.
