HOUSTON – (Realty News Report) – A group led by Griffin Partners of Houston has acquired a 17.8-acre infill parcel of land for a new industrial development near Highway 288, CBRE reported.
The Houston property, which is west of Highway 288, will soon be home to a 224,700-SF industrial facility called Griffin 288/West Airport.
CBRE’s Faron Wiley represented the land buyer, a joint venture between Griffin Partners Income & Value Fund IV and Peakline Real Estate Funds. Nathan Wynne with CBRE National Partners secured the equity for the project.
Wiley along with CBRE’s Billy Gold are set to handle comprehensive marketing efforts in a submarket that offers exceptional potential, which has quick access to Loop 610, Beltway 8, Highway 90 and the Texas Medical Center, which is the largest medical center in the world.
“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.
South Houston Industrial has a 3% Vacancy Rate
In the fourth quarter, the South Houston submarket recorded 535,755 SF of positive absorption, ending the year with a 3.4% vacancy rate, demonstrating positive supply and demand dynamics for this new speculative development.
Located in the South Houston submarket, Griffin 288/West Airport will feature a new class A freestanding infill front load industrial facility. The project, located south of Loop 610 off of West Airport, is expected to deliver during the second quarter of 2026.
Griffin Partners, founded in 1980 by Fred Griffin, has acquired or developed properties throughout Texas, Colorado, Arizona, Utah, Tennessee, and North Carolina.
Edward Griffin, the CEO of Griffin Partners, was a guest on THE RALPH BIVINS PROJECT podcast.
March 13, 2025 Realty News Report Copyright 2025
THE RALPH BIVINS PROJECT PODCAST
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File: Griffin Developing Near 288
Image: Courtesy CBRE