Trammell Crow JV Sells Industrial Building in $28M Deal

HOUSTON – (Realty News Report) – Trammell Crow Co. and joint venture partner Daiwa House Texas Inc. announced the sale of Building 3 in southwest Houston’s Blue Ridge Commerce Center for $26.8 million.

Applied Optoelectronics Inc., which had been leasing the 153,928-SF building since February, acquired the property in a deal that closed in early September.

Located in Fort Bend County, the building at 16851 Blue Ridge Commerce Drive was completed in the fall of 2025. The complex is near the Fort Bend Parkway and McHard Road, about 11 miles from AOI’s Sugar Land headquarters.

AOI, which produces components used in artificial intelligence in datacenter and communication networks, has been expanding its manufacturing operations. The company, which is publicly traded on Nasdaq, recently purchased two new buildings in Pearland and expanded its Sugar Land campus.

Founded in 1997 at the University of Houston, AOI opened its Sugar Land headquarters in 2000.

AOI recently completed the sale of nearly $588 million in newly issued stock to fund its growth. The company reported $455.7 million in revenue in 2025, up 83% from $249.4 million in 2024.

“We are pleased to have successfully completed our third at-the-market equity offering program this year, which strengthens our balance sheet and supports our ability to address growing demand for high-speed optical connectivity in AI data centers,” Thompson Lin, AOI’s Founder, President and Chief Executive Officer, said in an announcement. “We intend to use these proceeds to continue to make investments in the business, including new equipment and machinery for production and research and development use, as we continue to scale our advanced manufacturing capacity.”

Trammell Crow and Daiwa House recently broke ground on Phase II of Blue Ridge Commerce Center, totaling 687,338 across three buildings. Completion is planned in Spring 2027.

Phase I totals 1.35 million SF across five buildings. The AOI building is among four buildings in Phase I that have sold to owner-occupiers. The 157,626-SF front-load Building 2 remains available for lease or sale.

“This transaction is especially meaningful given AOI’s long-established presence in the Greater Houston market and their commitment to state-of-the-art manufacturing,” said George Farish, Principal with TCC in Houston. “From the beginning, we envisioned Blue Ridge Commerce Center as a prime destination for growing companies seeking best-in-class industrial space. Securing respected Houston-area technology companies such as AOI reinforces that vision and speaks to the enduring appeal of this project.”

Boilerplate: A subsidiary of CBRE Group, Dallas-based Trammell Crow Co. has developed or acquired 3,000 buildings valued at $90 billion spanning more than 700 million square feet. The company was founded in 1948.

Feature image: Trammell Crow Co. courtesy photo

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