LaSalle Investment Management and Quannah Partners Sell 183,301-SF Houston Industrial Facility to User-Operator
LaSalle Investment Management and Quannah Partners have sold 290 Crossroads Commerce Center, a newly developed 183,301-square-foot Class A industrial facility in Houston's northwest industrial market, the firms announced. The buyer was a user-operator, and the sale price was not disclosed.
The transaction marks the completion of a development that was originally conceived as a speculative industrial project before being placed under contract early in the development process. That early commitment allowed the building's design and construction to be tailored to the buyer's operational requirements.
Early Contract Shaped Development Around Buyer's Needs
The property was placed under contract early in the development process, enabling building design and construction to be managed alongside the buyer's operational requirements. The facility reached substantial completion in June 2026 and features modern industrial specifications with strategic access to Houston's major transportation infrastructure and logistics networks.
The development-to-user-sale structure reflects a pattern in which occupiers commit to premium industrial space before project completion when the location and design align with their operational needs. The northwest Houston industrial corridor's access to regional distribution infrastructure was cited as a key factor in the asset's positioning.
Executives Cite Demand for Modern Logistics Product
"This transaction reflects our continued conviction in well-located industrial assets in high-growth logistics corridors," said Jeffrey Shuster, President of LaSalle Value Partners. "It was a great collaboration with Quannah, and that dynamic helped the team secure a user early in the development process, underscoring the depth of demand for modern, flexible industrial product and the strength of the underlying market."
Doug Wiley, Chief Executive Officer of Quannah Partners, said the project illustrates the firm's development approach. "290 Crossroads is representative of the type of development opportunities we continue to pursue across our platform," Wiley said. "This project demonstrates our ability to source attractive industrial investments, execute efficiently, and remain flexible throughout the development process to meet evolving user demand. LaSalle was a great partner that shared our conviction for this opportunity and their collaboration throughout helped drive a successful outcome."
Transaction Expands Quannah's Industrial Track Record
The sale adds to Quannah Partners' industrial portfolio across Texas and Colorado. Since inception, the Denver-based firm has developed or acquired more than 2.2 million square feet of industrial real estate across nine investments, representing over $228 million of committed capital. Quannah Partners maintains offices in Denver, Houston, and Dallas and focuses on Class A development and value-add acquisitions in high-growth markets.
For LaSalle Investment Management, the disposition is consistent with the firm's stated focus on industrial opportunities across key U.S. markets. LaSalle, a subsidiary of JLL, manages $86.9 billion of assets in private and public real estate equity and debt investments globally as of the fourth quarter of 2025.
Houston Industrial Market Context
Houston's northwest industrial corridor has drawn occupier interest tied to the region's logistics and distribution networks. The sale of 290 Crossroads Commerce Center to a user-operator — rather than a purely financial buyer — is consistent with broader demand for newer, functionally efficient industrial buildings that can be adapted to modern operational requirements. Class A industrial product has remained among the more resilient commercial real estate property types as owners of older industrial stock face greater leasing challenges.
Financial terms of the transaction, including the sale price, cap rate, and any financing details, were not disclosed.
About the Firms
LaSalle Investment Management is a globally integrated real estate investment manager and a subsidiary of JLL. The firm's client base includes public and private pension funds, insurance companies, governments, corporations, endowments, and private individuals. LaSalle sponsors a range of investment vehicles including separate accounts, open- and closed-end funds, public securities, and entity-level investments.
Quannah Partners is a Denver-based real estate investment and development firm focused on industrial, retail, and multifamily investments across Texas and Colorado. The firm combines institutional-quality underwriting and reporting with a hands-on approach to development and asset management.