Houston, TX – March 7, 2025 – CBRE recently announced the sale of 17.8 acres of land in Houston, Texas, which will soon be home to a 224,700-square-foot industrial facility, Griffin 288/West Airport.
CBRE’s Faron Wiley represented the buyer, a joint venture between Griffin Partners Income & Value Fund IV and Peakline Real Estate Funds in the transaction. Nathan Wynne with CBRE National Partners secured the equity for the project.
Located in the South Houston submarket, Griffin 288/West Airport will feature a new class A freestanding uber infill front load industrial facility. The project is expected to deliver during the second quarter of 2026, and will include 113 car parks, 61 trailer spaces, 20 future trailer parks, direct access to Highway 288 and strategic access to Port of Houston.
Wiley along with CBRE’s Billy Gold are set to handle comprehensive marketing efforts in a submarket that offers exceptional potential.
“The acquisition of this prime industrial land perfectly aligns with the current market demand for efficient and strategically located facilities,” said Travis Covington, President of Development at Griffin Partners. “Such a well-placed industrial facility will be uniquely capable of making enduring use of the land’s advantageous location and demonstrates our commitment to delivering solutions that meet the evolving needs of the market and support the growth of the community.”
In the fourth quarter, South Houston submarket recorded 535,755 square feet of positive absorption, closing the year off with a 3.4% vacancy rate demonstrating attractive supply and demand dynamics for this new speculative development.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2024 revenue). The company has more than 140,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
About Griffin Partners
Griffin Partners is a commercial real estate investment, development, and property management firm founded in 1980 by Fred Griffin. Headquartered in Houston, Texas, Griffin Partners cumulatively has acquired or developed over 19 million square feet of space across more than 85 projects comprised of 124 individual properties, with an aggregate value that exceeds over $2.6 billion. The company owns and operates properties throughout Texas, North Carolina, Colorado and Tennessee. For more information on Griffin Partners, visit www.griffinpartners.com