Northwoods Industrial Park Sells in Record 2.7 Million-SF Houston Deal; Adkisson Group, Pacific Coast Capital Partners Buy
HOUSTON — The Texas Development Company has sold Northwoods Industrial Park, a 2.7-million-square-foot, 64-building industrial campus in Northwest Houston, to a joint venture between the Adkisson Group and Pacific Coast Capital Partners (PCCP), Stream Realty Partners announced Nov. 3, 2026. The firm said the transaction represents the largest known industrial campus sale in Greater Houston by square footage and acreage.
Stream Realty Partners, which represented the seller, said Vice Chairman Jon Farris has been selected to lead leasing for the property. The late Travis Land of Partners Real Estate represented the buyer.
Northwoods Industrial Park Sale: Deal Details
Northwoods Industrial Park is located at 11919 FM 529 and spans approximately 230 acres. The campus is 98% occupied by a mix of local, national and international credit tenants, according to Stream Realty Partners.
The 2.7 million square feet across 64 buildings works out to roughly 42,188 square feet per building and about 11,739 square feet per acre, based on the campus totals. The property is described as one of the region's largest concentrations of industrial space.
Broker Roles and Comments From Stream Realty Partners
Farris represented The Texas Development Company in the disposition. "It was a pleasure to work with Raymond Krell, the Peterson family, and the entire team at The Texas Development Company throughout this disposition process," Farris said. "Northwoods Industrial Park is truly a one-of-one asset that would be nearly impossible to duplicate. The property offers heavy cranes, massive power, expansive yard space, and proximity to a dense labor pool at a time when tenant demand for crane-served facilities in Houston has never been higher, with no indication of slowing in the foreseeable future."
Farris said the transaction was shaped over nearly two years. "The late Travis Land was instrumental in bringing this opportunity together and advancing it from the beginning," he said. "Seeing it close at this scale is a testament to his leadership, the relationships he built, and the trust he earned throughout his career. Travis left an extraordinary legacy in Houston's commercial real estate community, and his impact continues to be felt today."
Crane-Served Infrastructure, Rail and Power
Every building in the park has one or more bridge cranes with capacities ranging from five to 75 tons and hook heights of 21 to 29 feet. Eave heights range from 31 to 41 feet. Each facility includes above-standard three-phase electrical power, natural gas and a fenced outdoor storage yard.
The campus is served by an active Union Pacific rail spur and a private well that provides water for industrial users. It sits near U.S. 290 and the Sam Houston Tollway, has three points of ingress and egress along FM 529, and is outside the 100- and 500-year floodplains with strong stormwater drainage, according to the announcement.
Stream Realty Partners said the combination of scale, specialized infrastructure, rail access and functional facilities positions the property to capitalize on continued demand from manufacturing, fabrication, distribution and other industrial users across the Houston market.
Houston Industrial Market Context
The sale comes as Houston's industrial market shows strong leasing alongside rising supply. Through the first three quarters of 2026, the market recorded 20.9 million square feet of net absorption against 27.9 million square feet of deliveries, pushing vacancy to 7.4%. More than 45 million square feet of leases were signed during the period, the strongest pace on record for the first three quarters.
Third-quarter vacancy readings varied by research provider, from 6.3% to 7.5%, reflecting differences in market boundaries and methodologies. Cushman & Wakefield reported 6.3% vacancy and average asking rent of $8.16 per square foot, while Newmark reported 7.5% vacancy and overall asking rent of $10.99 per square foot. Colliers recorded 8.3 million square feet of third-quarter absorption, a quarterly high since the second quarter of 2022, with 7.0% vacancy and average asking rent of $10.43 per square foot.
Matthews reported a 1.8% year-over-year decline in asking rents in the third quarter, with vacancy rising as supply outpaced demand. Industrial cap rates in Houston have varied by source: Lee & Associates showed a 6.66% average cap rate and an average sale price of $116 per square foot for the second quarter of 2026, while Matthews reported a 7.9% cap rate for the third quarter.
Outlook
Northwoods Industrial Park combines high occupancy with crane, rail, power and yard features that are less common than in conventional bulk warehouse space. As new deliveries add options for tenants in generic industrial product, the campus's specialized infrastructure and its 64-building scale set it apart from standard speculative development. Stream Realty Partners will lead leasing for the property going forward.
About Stream Realty Partners
Stream Realty Partners is a national commercial real estate firm headquartered in Dallas that offers integrated leasing, investment and development services. Since 1996, the firm has grown to more than 1,550 professionals and completes annual transactions valued at more than $11.5 billion across office, industrial, retail, healthcare, land and data center properties. Contact Stream Houston at 713.300.0300 for more information on the property.
Sources
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