Partners Capital Sells Final 36 Acres at North Houston Commerce Park to Adkisson Group

Partners Capital, the investment platform of Partners Real Estate, announced Oct. 28 that its Land Fund I has sold approximately 36 acres at North Houston Commerce Park to Houston-based Adkisson Group, completing the sale of all of the project's Phase I land.

Every Phase I acre was sold or under contract when Partners provided an update on the project in September, the firm said. Adkisson plans nine industrial buildings on Tracts 2, 4 and 5, ranging from 30,000 to more than 150,000 square feet. The project totals approximately 509,250 square feet and is reportedly to be called Commerce Center Industrial Park.

Adkisson Group's Plans for North Houston Commerce Park

Adkisson Group intends to bring small- and mid-size buildings into the park alongside larger distribution product being delivered by surrounding developers. The planned uses include distribution, logistics, light manufacturing and multi-tenant industrial. Adkisson has obtained construction financing for the project.

"Adkisson Group's development plan is to bring small- and mid-size buildings into the park alongside larger distribution product being delivered by the developers around it. The varying product types complement each other and widens the range of users North Houston Commerce Park can serve," said Dan Moody, Partner and Managing Director of Partners Land Fund.

"Our job in Land Fund I is to deliver shovel-ready sites to end users and developers, and Phase I has drawn three developers ready to build on them," Moody said. "With detention complete, utilities going in and paving starting this month, we remain on track to finish infrastructure before year end, and we already have additional Phase II acreage under contract to sell."

Project Location and Phase I Scale

North Houston Commerce Park totals 189 acres, originally comprising 153 acres followed by the purchase of an additional 36 acres. The park sits at the southeast quadrant of the FM 1960 and Aldine Westfield intersection, minutes from George Bush Intercontinental Airport. Phase I will support roughly 1.7 million square feet of Class A industrial product.

Adkisson joins two developers that closed earlier in the year. Portman acquired 41 acres and has broken ground on Gateway 1960, a three-building, 714,339-square-foot speculative park scheduled for delivery in summer 2027. Partners' Industrial team represented the Atlanta-based developer in the acquisition and will market and lease the buildings once they come online. In early September, a national developer acquired 43 acres to develop a build-to-suit for a Fortune 50 company.

Together, the transactions show the park being divided among developers pursuing different industrial formats rather than a single large-campus strategy.

Entitlement and Infrastructure Work by Partners Capital

Land Fund I acquired the initial 153 acres in September 2024 and added 36 acres on the north side of FM 1960 a year later. Since the initial acquisition, the fund has obtained variances and platting from the City of Houston, completed the detention pond serving every user in the park, and begun constructing utilities and extending WW Thorne, a public thoroughfare that will connect FM 1960 to Aldine Westfield through the development.

Land Fund I launched in September 2022 and targets tracts in the path of growth where entitlement and infrastructure work can add value. Its holdings also include the 152-acre Waco Gateway Park and 77 acres along SH 249 and FM 1774.

Partners Capital Launches Land Fund II

Following completion of the Phase I sales, Partners Capital announced the launch of Land Fund II, an investment vehicle built to acquire, entitle and position strategic land across high-growth corridors in Texas and the Sun Belt. Accredited investors can invest in Land Fund II, and in all of Partners Capital's open offerings, through its broker-dealer, Partners Finance.

Partners Capital has completed more than $1 billion in transactions over the past decade and has sponsored nine investment funds across three strategies. Its portfolio totals more than 2.28 million square feet across key markets in Texas and the Southeast.

Houston Industrial Market Context

The sale comes as Houston's industrial market continues to absorb new supply. Houston recorded approximately 7.2 million to 7.5 million square feet of third-quarter net absorption in 2026, with year-to-date absorption reaching roughly 18 million square feet under CBRE's measure. Lee & Associates reported that year-to-date absorption had surpassed deliveries by approximately 1.7 million square feet.

Third-quarter vacancy ranged from 6.3% to 7.5%, depending on methodology and coverage area, and Houston had approximately 19.6 million square feet under construction in Cushman & Wakefield's data. Cushman & Wakefield reported average Houston industrial asking rents of $8.16 per square foot, up 5.0% year over year, while Houston.org reported average industrial triple-net asking rents of $11.05 per square foot in the third quarter. The differing figures reflect variations in datasets and property types.

Adkisson's nine-building plan targets the small- and mid-size-user segment, while Gateway 1960 will deliver three large speculative buildings and the Fortune 50 build-to-suit will serve a single occupier.

Sources

Partners Real Estate press release: Partners Capital sells final Phase I tracts at North Houston Commerce Park to Adkisson Group