Nine-Building Industrial Park Lands Construction Loan in North Houston

Adkisson Group, a Houston-based industrial developer, has obtained construction financing for Commerce Center Industrial Park, a nine-building project in North Houston. IPA Capital Markets, a division of Marcus & Millichap, arranged the loan through Amegy Bank.

The project will total 509,250 square feet on 36 acres inside North Houston Commerce Business Park, a 189-acre site developed by Partners Real Estate at the southeast corner of FM 1960 and Aldine Westfield Road. Buildings will range from 30,000 square feet to more than 150,000 square feet and are designed for distribution, logistics, light manufacturing and multi-tenant users.

North Houston is one of the region's most active industrial markets. Colliers reported 5.7 million square feet under construction there in the third quarter, out of 25.5 million across the Houston region, with Greater Houston construction up 12.8% year over year. Nearby projects include CityNorth Industrial Park, a $150 million, 1.2 million square foot development on the former Greenspoint Mall site, and several cross-dock buildings along Rankin Road and FM 1960.

For developers and lenders, the deal signals that well-located speculative industrial product near FM 1960 is still attracting bank financing.