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Land Fund I’s 153-acre project near Bush Intercontinental will support roughly 1.7 million sq. ft. of Class A industrial; Portman’s Gateway 1960 was the first tract to trade

Houston, TX – September 28, 2026 – Partners Capital, the investment platform of Partners Real Estate (“Partners”), announced today that every acre of Phase I at North Houston Commerce Park is sold or under contract, with the remaining closings expected before the end of the year.

The 153-acre project, assembled by Partners Capital’s Land Fund I, sits at the southeast quadrant of FM 1960 and Aldine Westfield intersection and minutes from George Bush Intercontinental Airport. It will support roughly 1.7 million sq. ft. of Class A industrial product in its first phase.

Land Fund I acquired the initial 153 acres in September 2024 and added 36 acres on the north side of FM 1960 a year later. The two years since the initial acquisition have been spent entitling and developing the property, including: obtaining variances and platting from the City of Houston, designing and constructing utilities and detention for the entire project along with the extension of public thoroughfare (WW Thorne) through the development, connecting FM 1960 to Aldine Westfield.

“In July, we completed the detention pond which will provide off-site detention for all users in North Houston Commerce Park,” said Dan Moody, Partner and Managing Director of Partners Land Fund. “We recently commenced the extension of all utilities through the project and will commence paving in October. Portman was the first sale and we have two additional sales pending—one to a local developer and one to a national developer doing a build-to-suit with a prominent, Fortune 50 tenant. In total, there will be about 1.7 million sq. ft. of Class A industrial product developed inside Phase I of NHCP. We will complete infrastructure before year end.”

Portman closed on 41 acres and has broken ground on Gateway 1960, a three-building, 714,339-sq.-ft. speculative park scheduled for delivery in summer 2027. Partners’ Industrial team represented the Atlanta-based developer in the acquisition and will market and lease the buildings once they come online.

Houston-based Adkisson Group will acquire 35 acres where it plans nine industrial buildings ranging from 30,000 to more than 150,000 sq. ft. The third parcel is spoken for by a national developer building to suit for a Fortune 50 tenant.

Demand in the submarket has kept pace with the supply coming out of the ground. Houston’s North Corridor absorbed 1.5 million sq. ft. of industrial space in the second quarter and closed the period at 6.4% vacancy, a full point below the 7.4% metro rate, while asking rents there averaged $10.78 per sq. ft. NNN against a $9.73 market average, according to Partners’ Houston Q2 2026 Industrial Market Report. Across greater Houston, net absorption reached 7.7 million sq. ft. for the quarter, up 75% from the first three months of the year.

“Every acre of Phase I trading before the infrastructure is complete reflects the thesis behind Land Fund I: acquire well-located land in the path of growth, carry it through entitlement and horizontal development, and deliver shovel-ready sites to developers ready to build,” said Andrew Pappas, Partner and President of Partners Capital. “North Houston Commerce Park has drawn on our acquisition discipline and our asset management platform—among the central components fueling long-term value creation for our investors.”

Land Fund I launched in September 2022 and targets tracts in the path of growth where entitlement and infrastructure work can add value. Its holdings also include the 152-acre Waco Gateway Park and 77 acres along the SH 249 and FM 1774.

Partners Capital has completed more than $950 million in transactions over the past decade, sponsoring nine investment funds across three strategies, and its portfolio totals more than 2.28 million sq. ft. across key markets in Texas and the Southeast.

Real estate investments involve risks, including market volatility, tenant turnover, and operational costs. Past performance is not indicative of future results. There can be no assurance that these trends will continue. This is not an offer to sell or solicitation to buy securities. Any offering is made only through official offering materials, which include detailed risk disclosures.