Goldman Sachs Acquires 838,446-SF Industrial Real Estate Asset in Katy, Texas
Goldman Sachs has acquired Grand Central West – Phase I, a newly constructed 838,446-square-foot Class A industrial real estate facility in Katy, Texas, JLL Capital Markets announced May 28. JLL represented the sellers — a partnership between Pinpoint Commercial and Senterra — in the transaction. Financial terms were not disclosed.
Industrial Real Estate Asset Details
Located at 22206 Beckendorff Rd. in Katy, Texas, the property sits within Houston's Northwest submarket and was delivered in 2024 as a build-to-suit cross-dock distribution center for Builders FirstSource (NYSE: BLDR), a construction supply and manufacturing company. The facility is 100% occupied and serves as the largest occupied building in Builders FirstSource's entire portfolio, consolidating four prior locations into a single site. It also functions as the company's sole Texas facility for the specialized manufacturing and distribution of windows.
The industrial real estate asset features 40-foot clear heights, 136 dock doors, 20 loading ramps, three drive-in doors, a 185-foot truck court and approximately 31,065 square feet of office space, representing roughly 4% office finish. The property includes 8,000 amps of electrical service with underground conduit lines designed to support advanced manufacturing and distribution operations. Site amenities include 500 car parking spaces, 134 trailer parking spaces and a fully fenced and guarded truck court spanning 36.7 acres.
The facility's lease carries more than 10 years of remaining term. The property provides direct access to Grand Parkway and Interstate 10.
Strategic Location Amid Houston's Westward Growth
Grand Central West – Phase I serves as the anchor building for the larger Grand Central West industrial park in Houston's Northwest submarket. The property is surrounded by multiple master-planned communities and residential developments — including Elyson, Sunterra and Bridgeland — that together total more than 50,000 housing units either built, under construction or planned. That residential density directly supports Builders FirstSource's strategy of locating operations near its homebuilder client base.
"The seller successfully executed a value-creation strategy by delivering a best-in-class build-to-suit facility that serves as a critical, irreplaceable component of the tenant's statewide operations," said Trent Agnew, Senior Managing Director and Industrial Group Co-Leader at JLL. "The property's location in the path of significant residential growth, combined with over 10 years of lease term remaining, made this an exceptionally compelling investment for Goldman Sachs."
The JLL Capital Markets team representing the seller included Agnew, Managing Director Charlie Strauss, Senior Director Lance Young, Associate Clay Anderson and Analyst Dawson Hastings.
Phase II Development and the Broader 284-Acre Platform
The Pinpoint Commercial and Senterra partnership controls approximately 284 acres near Grand Central West – Phase I, which is slated for further development into industrial, retail and multifamily uses.
Grand Central West – Phase II is scheduled to begin in Summer 2026 and will consist of two additional industrial buildings totaling 618,667 square feet. Phase II is expected to reach completion by the second quarter of 2027.
About the Parties
Goldman Sachs Asset Management manages approximately $576 billion in assets as of September 30, 2025, investing across private equity, growth equity, private credit, real estate, infrastructure, sustainability and hedge funds, according to the firm.
Pinpoint Commercial is a Houston-based national real estate development and investment management firm focused primarily on industrial, land, medical, retail and senior living development. Senterra is a family office with a portfolio that includes luxury auto dealerships, commercial and residential real estate assets and multiple operating companies.
JLL (NYSE: JLL) is a global commercial real estate services and investment management company with annual revenue of $26.1 billion and operations in over 80 countries, according to the firm.
Sources: JLL Newsroom, May 28, 2026