A joint venture of the Adkisson Group and PCCP has acquired Northwoods Industrial Park, a sprawling 2.7-million-square-foot campus of 64 buildings in northwest Houston near U.S. Highway 290 and Beltway 8. The deal, reported as 98% occupied by local, national and international tenants, is being called the largest known industrial campus sale in Greater Houston by square footage and acreage.
That characterization comes from Stream Realty Partners, whose Vice Chairman Jon Farris represented the seller in the transaction and has since been tapped to lead leasing for the property going forward, according to Realty News Report. Bisnow, which first reported the deal, noted the sale spans roughly 230 acres and ranks as Houston's largest-ever industrial campus sale, according to Bisnow reporter Maddy McCarty.
Northwoods isn't your average warehouse row. Every building on the site comes with at least one bridge crane, with capacities ranging from five to 75 tons and hook heights between 21 and 29 feet, built to handle heavy manufacturing and logistics work that lighter facilities simply can't. The buildings themselves stand between 31 and 41 feet tall, and the campus is wired with three-phase electrical power and natural gas service, plus a fenced outdoor storage yard and even a private well, Bisnow reported.
A Deal Nearly Two Years in the Making
The campus also has a Union Pacific rail spur running through it, a feature that's become something of a hot commodity in Houston's industrial market this year. Similarly rail-served properties have changed hands recently, including a 1-million-square-foot complex Houston Business Journal reported that High Street Logistics Properties acquired, which includes five buildings directly served by a Union Pacific line.
Per Farris, the Northwoods sale took nearly two years to complete. The late Travis Land of Partners Real Estate represented the buyer side of the transaction, and Farris credited him with helping shepherd the deal from its earliest stages. Land died of cancer earlier in 2026, according to Bisnow's reporting.
“Travis was instrumental in bringing this opportunity together and advancing it from the beginning,” Farris said, according to Bisnow. He added that the sale closing at this scale testified to Land's leadership, relationships and earned trust, and said Land left an extraordinary legacy in Houston commercial real estate, one whose impact continues even after his passing.
Built Out Over Decades by a Houston Developer
Northwoods wasn't built overnight. Texas Development Co., a Houston-based firm founded by Jim Petersen in the 1970s, developed the campus into its current form after first acquiring parcels at 11919 FM 529 back in 1995, according to Bisnow's reporting. That slow accumulation of land and buildings over three decades helps explain why the finished campus is large and varied enough to anchor a record-setting sale.
Farris told Realty News Report that tenant demand for crane-served industrial facilities in Houston has never been higher, with no signs of slowing in the foreseeable future. That outlook tracks with a broader pickup in Houston's industrial leasing market, where activity jumped to 14.6 million square feet in the third quarter of 2026, up 66.3% from the prior quarter and 31.3% year over year, according to Cushman & Wakefield.
A Mixed Picture on Vacancy and Rents
Beyond leasing volume, though, the market data gets murkier. Cushman & Wakefield put Houston's third-quarter net absorption at 7.3 million square feet, its strongest quarterly showing since the second quarter of 2022, and pegged vacancy at 6.3%, unchanged from the prior quarter but up 20 basis points year over year. Newmark's numbers tell a different story: that firm reported absorption of 5.3 million square feet, down 29.6% from the previous quarter, and vacancy at 7.5%, up 30 basis points and 160 basis points above what Newmark calls its long-term average, per the firm's own market report.
Asking rents diverge sharply between the two trackers as well. Cushman & Wakefield listed a record average of $8.16 per square foot, up 3.8% quarter over quarter, while Newmark reported a record of $10.99 per square foot with 6.5% annual growth. Construction activity shows a similar gap, with Cushman & Wakefield counting 19.6 million square feet under construction versus Newmark's figure of 25.5 million square feet. Both firms agree the construction pipeline is shrinking from earlier in the year, even if they disagree on the exact scale.
Part of a Busy Stretch for Northwest Houston Industrial
Northwoods is hardly an isolated transaction in the submarket. A joint venture of Brennan Investment Group and PCCP recently purchased a 1.3-million-square-foot, 16-building industrial park on 126 acres in northwest Houston through a short-term sale-leaseback, according to REBusinessOnline. That property's buildings, constructed between 1999 and 2018, also feature bridge cranes, heavy power capacity and outdoor storage, echoing the same industrial profile that made Northwoods attractive.
Elsewhere in the region, Cabot Properties acquired the 484,056-square-foot Port 225 Commerce Center from Brightshore Capital in late October, a two-building, 26.5-acre development, according to a Brightshore Capital announcement. And the Adkisson Group itself has been active beyond the Northwoods purchase, securing construction financing for a separate nine-building, 509,250-square-foot development at FM 1960 and Aldine Westfield Road, Realty News Report noted. Taken together, the deals point to steady investor appetite for Houston's crane-served, rail-connected industrial stock even as the broader market's underlying numbers remain a matter of dispute among the firms tracking them.
