Constellation Plans 2 Industrial Developments: The Houston Deal Sheet

Constellation Real Estate Partners acquired 29 acres at 6339 S. Sam Houston Parkway E. for the development of Constellation Southbelt, a three-building, 376K SF speculative industrial project. 

Additionally, the firm acquired 20 acres at 13814 Cullen Blvd. for the development of Constellation Cullen, a 282K SF industrial building. Both of the projects are in partnership with a real estate fund advised by Crow Holdings Capital. 

Constellation Southbelt broke ground this quarter and is expected to be completed in Q4 2026. It will feature 32-foot clear heights and a 75-foot laydown yard for additional outdoor storage and trailer parking. Buildings will range from 90K SF to 160K SF.

Constellation Cullen will break ground in the first quarter of 2026 and is expected to be completed in Q4 2026. It will feature 36-foot clear heights. 

Leasing efforts for Constellation Southbelt will be handled by Zack Taylor, Ryan Byrd and Jason Scholtz with Colliers. Cape Bell, Greg Holmes and Savannah Smith with CBRE will oversee leasing at Constellation Cullen.

PEOPLE

CBRE hired John Nicholson as a vice chairman in its Houston office, where he will focus on representing industrial users.

Nicholson has more than 20 years of industry experience and joined CBRE from Colliers, where he served as vice chairman and principal. His career also includes a stint as president of Douglas Development Partners as well as positions at Cushman & Wakefield and Transwestern. Nicholson has completed more than 800 transactions totaling over $2B in value.

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Gensler named Debora Novarini and Alanna Carter as principals in its Houston office. 

Novarini, South Central Region Brand Practice area leader and studio director, will continue to connect people to brands in her new role. She works across client industries including workplace, hospitality, entertainment, industrial and mixed-use developments.

Carter, Global Healthcare Practice leader, has more than 25 years of leadership experience and helps create human-centered healthcare environments.

SALES

An Ares Real Estate fund acquired the NxNW Houston Class-A Logistics Portfolio, a three-property industrial portfolio totaling 1M SF of logistics space across Houston’s North and Northwest submarkets. Marq Logistics, which represents Ares’ vertically integrated global logistics real estate platform, will manage the portfolio.

The portfolio comprises six industrial buildings with an average vintage of 2016 and is 95% leased to 10 tenants. The three properties include Central Green Corporate Center at 516K SF, North Houston Logistics Center Building G at 351K SF and West Little York at 153K SF.

The JLL Capital Markets team representing the seller included Trent Agnew, Charlie Strauss, Lance Young, Brooke Petzold and Dawson Hastings.

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Ellaxa bought Humble Commerce Center Building 2, a 56K SF warehouse at 17520 Eastex Freeway Road. Robert McGee, Taylor Schmidt and Austin Bartula of Colliers represented the seller, Urban Eastex LP. Sinem Arikan and Barkley Peschel of Colliers represented the buyer. 

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Partners Capital, the investment platform of Partners Real Estate, announced the following:

• Partners Capital acquired Lakeside Shopping Center, a 45K SF, two-building retail center at 2450 E. Main St. and 103 Davis Road in League City. Andrew Nguyen of LandPark Brokerage Services represented Partners Capital, and Harris Brooks of LandPark Brokerage Services represented the seller. The acquisition was financed by SouthState Bank. 
• Partners Capital sold Murphy Southwest Business Center, a 343K SF, 28-building industrial/flex property at 12999 and 13003 Murphy Road in Stafford. After acquiring the property off-market in 2021, the team moved the asset from month-to-month leases to over 90% triple-net leases and completed a seven-figure infrastructure upgrade. The seller’s brokerage team was Charlie Strauss, Trent Agnew and Lance Young of JLL. 

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Prisha Hotels LLC bought the 82-key Staybridge Suites Houston I-10 West-Beltway 8, located at 3251 W. Sam Houston Parkway N. The seller was Noreen Enterprises LLC, whose managing partner Sultan Khowaja said his family is gradually exiting the hospitality business.

HVS Brokerage & Advisory team members Eric Guerrero, James Rebullida, Kyle Peterek, Fadi Rawashdeh and Daneen Godinet participated in the transaction.

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BKM Capital Partners acquired a two-property industrial portfolio in Houston for $24.9M. Completed on behalf of BKM Industrial Value Fund III, the transaction involves 194K SF of light industrial space.

The purchase includes the five-building Fairway Business Park in Northwest Houston and the two-building Rockley Road Business Center in Southwest Houston. 

BKM plans to spend $3.7M on exterior upgrades. Another $2.4M is earmarked for tenant improvements aimed at boosting leasing velocity. 

CBRE National Partners represented the seller, Fort Capital. Brett Turner, with support from Charlie Farmer, led the acquisition on BKM’s behalf. 

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Finial Group acquired eight single-tenant industrial properties in Houston in December, rounding out Finial’s seventh single-tenant industrial aggregation fund. Finial Fund VII consists of 14 single-tenant industrial buildings totaling 222K SF. 

The properties acquired are:  

• 6422 Calle Lozano Drive
• 6942 Signat Drive
• 13720 FM 529
• 3750 FM 529, Buildings 3 and 4
• 6927 Brittmoore Road
• 15055 West Drive
• 2323 S. Houston Ave.

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Eastham Capital sold Kensington Crossings and Morgan Bay, apartment complexes it acquired in 2018 and 2019, respectively, as a joint venture with Mosaic Residential. Kensington Crossings is a 254-unit apartment community near Jersey Village. It was about 97% occupied at the time of sale.

Morgan Bay, a 268-unit complex in North Houston, was 95% occupied. The buyers and sale prices were not disclosed.

LEASES

Electro Technical Industries leased 338K SF within Brennan Investment Group’s industrial campus at 6401 N. Eldridge Parkway. The lease spans eight buildings. 

Electro Technical Industries was represented by Chris Caudill of Partners Real Estate, while KBC Advisors’ John Ferruzzo and Jack Ferruzzo, along with the Welcome Group’s Ryan Wasaff and Cole Bercher, served as co-brokers.

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NewQuest will begin an 87K SF expansion at the Grand at Aliana, located at the intersection of West Grand Parkway South and West Airport Boulevard in Richmond, to accommodate the following leases: 

• Dick's Sporting Goods leased 60K SF. Josh Friedlander of NewQuest represented the landlord. Matt Reed and Greg Bracchi of Shop Co. represented the tenant.
• Havertys Furniture leased 27K SF. NewQuest’s David Myers and Friedlander represented the landlord. Mark Reeder, Ed Heap, Jonathan Probst and Ryan Johnson of SRS Real Estate Partners represented the tenant.

CONSTRUCTION AND DEVELOPMENT

A joint venture between Read King and Wayfinder Real Estate began building a 368-unit apartment community in Richmond. The Class-A Verbena at Waterview will be built on 14 acres at the Waterview Town Center, a 134-acre, predominantly retail development off the northwest corner of State Highway 99.

The project will feature one-, two- and three-bedroom homes. The duo previously developed The Waterview, which opened in 2022 and is also part of Waterview Town Center.

The development team includes OHT Partners as the general contractor, Meeks & Partners as the architect, Quiddity Engineering as the civil engineer, United Structural Consultants as the structural engineer, HGE Consulting as the mechanical, electrical and plumbing consultant, Davies Collaborative as the interior designer, Norris Design as the landscape architect and Weathertight Consulting for waterproofing. 

The companies anticipate delivering the Verbena clubhouse and first units in the third quarter of 2026, with full build-out slated for July 2027.

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Stream Realty Partners broke ground on Summit Grove Business Park, a two-building, 217K SF industrial development at 21737 and 21811 Holzwarth Road in Spring. Set to deliver in summer 2026, Summit Grove Business Park will feature two rear-load buildings.

Building 1 will span 126K SF with a 32-foot clear height, while Building 2 will include 92K SF with a 36-foot clear height. The buildings will accommodate users ranging from 8,500 SF to 125K SF. 

Stream’s Industrial Development Services team leading the project includes Justin Robinson, Tyler Wellborn, Kristina Gibson and Craig McKenna. Leasing efforts will be overseen by Tyler Maner, Grant Wisenbaker and Abraham Richardson, while Stream’s Investment Management professionals involved include Mustafa Ali and Tricia Larsen.

The project team also includes E.E. Reed Construction as the general contractor, Ware Malcomb as the architect and Halff as the civil engineer.

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MLB Commercial Real Estate sold 1,073 acres along FM 1960 that will become Arabella Crossing, a master-planned residential community of 3,000-plus homes by Paul Hayden Development. Land banking is provided by Connor Investment Real Estate. 

Plans call for a community with walking trails, parks and landscaped green space. Phase 1 will deliver more than 1,000 homesites across 40-, 45-, and 55-foot lots.

Tommy LeBlanc and John-Michael Kamel of MLB Commercial Real Estate, with Carell Freeman and Justin Die of Freeman & Die, represented the seller. Reed Vestal, John Erck and Quade Towers of Junction Commercial Real Estate represented the buyer, Connor Investment Real Estate.

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Union Pacific Railroad plans to develop Mainline Texas Industrial Park, a 2,000-acre master-planned development near Rosenberg, southwest of Houston. Mainline Texas Industrial Park offers 1,300 acres of rail-served land and 700 acres for nonrail industrial and commercial uses, with potential for more than 20M SF of Class-A development.

FINANCING

Forman Capital closed on a $37.1M construction loan for the development of The Oaks of District West, an open-air retail center. The project is being developed by Ferguson Family Partners, led by Bobby and Corey Ferguson, at 21711 FM 1093 in Richmond. 

The Oaks of District West will have about 87K SF across 10 buildings and is about 70% preleased. Forman Capital’s Scott Mehlman, Brett Forman and Ben Jacobson originated the loan. Construction is scheduled to start in Q1 2026 and expected to be completed in Q3 2027.

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Transwestern has invested in FrontierGen, the Houston-based developer of "Infrastructure Nexus" campuses in South Texas. Transwestern did not disclose the amount of its investment but said the partnership will accelerate the planning and build-out of infrastructure-ready, artificial intelligence-focused data center and advanced manufacturing campuses across the region.