9-acre Industrial Development Site Presents Tremendous Opportunity for North Houston Logistics Market
HOUSTON (October 19, 2023) – Griffin Partners, an entrepreneurial commercial real estate investment, development and property management firm, announced its latest fund, Griffin Partners Income & Value Fund IV (“Fund IV”), acquired land for the development of Carter Crossing, located on Greensmark Drive in Houston, Texas. This new, speculative front load industrial development totals 137,000-square-feet. This project follows a successful sale of Griffin’s latest industrial development nearby, Pinto #23, a 282,000-square-foot cross-dock industrial building that was sold upon completion to an institutional buyer in October 2022. Carter Crossing is another example of Fund IV’s growing industrial development pipeline.
Fund IV is actively buying and developing Industrial projects across various markets and this latest fund focuses on metros within Texas, Utah, Arizona, Colorado, Tennessee, and North Carolina. Fund IV will continue its strategic focus on new and existing Industrial projects as well as within mixed-use office/retail investments.
The 137,000-square-foot front-load industrial building, scheduled to be completed in late 2024, features 32-foot clear height, multiple entry and exit points, 130’ truck court, robust electrical systems, and high-quality office buildouts. The project will benefit from the proximity to two major highways, with the ability to quickly move goods across Houston and surrounding Texas markets.
“The addition of Carter Crossing to our portfolio exemplifies Griffin Partners’ commitment to developing quality assets in strategic locations,” said Travis Covington, Griffin Partners’ President of Development. “Tenants and Capital continue to seek smaller, well-located, Class A industrial space. Carter Crossing satisfies that thesis and offers companies the opportunity to locate their business in a high quality, well-maintained business park. Our team has been incredibly active in this market and remains confident in the future growth opportunities it will provide.”
Over the past 40 years, Griffin Partners has created and cultivated lasting client-focused relationships by successfully identifying promising investment strategies. These opportunities have been converted into profitable investments through the efforts of the firm’s multi-disciplined operating platform. For more information on Griffin Partners, visit www.griffinpartners.com.
MEDIA CONTACT
Jenny Gustafson - jenny@likemindstalk.com | 713-416-7280
Fund IV is actively buying and developing Industrial projects across various markets and this latest fund focuses on metros within Texas, Utah, Arizona, Colorado, Tennessee, and North Carolina. Fund IV will continue its strategic focus on new and existing Industrial projects as well as within mixed-use office/retail investments.
The 137,000-square-foot front-load industrial building, scheduled to be completed in late 2024, features 32-foot clear height, multiple entry and exit points, 130’ truck court, robust electrical systems, and high-quality office buildouts. The project will benefit from the proximity to two major highways, with the ability to quickly move goods across Houston and surrounding Texas markets.
“The addition of Carter Crossing to our portfolio exemplifies Griffin Partners’ commitment to developing quality assets in strategic locations,” said Travis Covington, Griffin Partners’ President of Development. “Tenants and Capital continue to seek smaller, well-located, Class A industrial space. Carter Crossing satisfies that thesis and offers companies the opportunity to locate their business in a high quality, well-maintained business park. Our team has been incredibly active in this market and remains confident in the future growth opportunities it will provide.”
Over the past 40 years, Griffin Partners has created and cultivated lasting client-focused relationships by successfully identifying promising investment strategies. These opportunities have been converted into profitable investments through the efforts of the firm’s multi-disciplined operating platform. For more information on Griffin Partners, visit www.griffinpartners.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 18 million square feet of space across more than 79 projects comprised of 112 individual properties, with an aggregate value that exceeds over $2.5 billion. The company owns and operates properties throughout Texas, Colorado, Arizona, Utah, Tennessee, and North Carolina. For more information on Griffin Partners, visit www.griffinpartners.com.MEDIA CONTACT
Jenny Gustafson - jenny@likemindstalk.com | 713-416-7280