Griffin Partners Unveils Plans for New Houston Industrial Facility
Deal News | Mar 07, 2025 | Griffin Partners Inc
Griffin Partners, through a joint venture with Peakline Real Estate Funds, is developing a 224,700-square-foot industrial facility named Griffin 288/West Airport on a recently acquired 17.8-acre land in Houston, Texas. CBRE's Faron Wiley and Nathan Wynne were instrumental in the transaction and securing equity. This facility will be strategically located in the South Houston submarket with access to Highway 288 and the Port of Houston, featuring a range of amenities including car and trailer parks. Targeted for completion by Q2 2026, the project is aimed at fulfilling the high market demand for strategically placed industrial facilities. Market dynamics indicate high absorption and low vacancy rates in this submarket, positioning the new facility to capitalize on these trends. This development underscores Griffin Partners' commitment to supporting market growth and community well-being.
Sectors
- Real Estate
- Industrial Development
- Investment Management
Geography
- United States – The deal and development are taking place in Houston, Texas, part of the South Houston submarket, highlighting its geographical relevance.
- Houston, Texas – Houston is the specific city where the real estate transaction and subsequent industrial development are occurring, showcasing local market dynamics.
Industry
- Real Estate – The article involves a real estate transaction, specifically the sale and development of industrial land for an infrastructure project.
- Industrial Development – This sector is relevant as the article discusses the construction of a new industrial facility in Houston, highlighting trends in industrial real estate and development.
- Investment Management – The involvement of funds such as Griffin Partners Income & Value Fund IV and Peakline Real Estate Funds indicates investment strategies driving the real estate development.
Financials
- 17.8 acres – The size of the land acquired for the new industrial facility.
- 224,700 square feet – The planned size of the new industrial facility.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Griffin Partners Inc. | Developer | Company | Griffin Partners Inc. is leading the development of the new industrial facility in Houston as part of a joint venture. |
| CBRE Group, Inc. | Facilitator/Real Estate Services | Company | CBRE is the world's largest commercial real estate services and investment firm, facilitating the land sale and providing strategic market insights. |
| Peakline Real Estate Funds | Investment Partner | Company | Peakline Real Estate Funds is partnering with Griffin Partners Inc. to develop the industrial facility in the Houston area. |
| Griffin Partners Income & Value Fund IV | Investment Fund | Company | A fund involved in the development project, indicating investment management and strategic growth within the real estate sector. |
| Faron Wiley | Representative for the Buyer | Person | Faron Wiley from CBRE facilitated the transaction on behalf of the joint venture between Griffin Partners and Peakline Real Estate Funds. |
| Nathan Wynne | Equity Securing | Person | Nathan Wynne from CBRE National Partners was responsible for securing equity for the project. |
| Travis Covington | President of Development | Person | Travis Covington of Griffin Partners, expressing the strategic vision behind the industrial project. |