James Campbell Co. has acquired the 663,882-square-foot Beltway Crossing Northwest industrial park in Houston. The deal also included a 7.4-acre land parcel, which may be developed into a 150,000-square-foot project. BGO previously owned the fully-leased campus, CommercialEdge data shows.
In 2019, Sun Life Financial acquired a majority stake in both Bentall Kennedy and GreenOak Real Estate, merging the two entities into BGO. The resulting company assumed ownership of all existing assets throughout the U.S., including Beltway Crossing Northwest.
The property last traded in 2016, when Panattoni Development sold the park, according to CommercialEdge. That same year, the campus became subject to an acquisition loan of $30.1 million held by State Farm with a maturity date set for 2028.
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Located at 11710, 11720 and 11810Â N. Gessner Road, the campus is about 17 miles southwest of the George Bush Intercontinental Airport and about 30 miles northwest of the port of Houston.
The three-facility industrial park debuted between 2015 and 2016. The rear-load, 67,200-square-foot shallow-bay warehouse includes a 24-foot headway, while the two cross-dock facilities spanning 155,682 and 441,000 square feet feature 32-foot clear heights. The campus comprises a total of 174 dock doors and 10 drive-in doors.
The tenant roster includes Amazon, Wärtsilä North America—an operator in the marine and energy industries—and Advance Auto Parts.
Hawaii-based James Campbell Co. owns 93 industrial, office and retail assets throughout mainland U.S. The company recently closed another deal in Houston with the acquisition of the 2013-completed, 240,000-square-foot Point North Sort Center.
Industrial deals in metro Houston
Greater Houston’s industrial sale volume landed at $724 million in 2024, according to a report by Partners Real Estate. A total of 719 industrial and flex assets changed hands last year for an average of $115 per square foot. The average cap rate stood at 7.9 percent.
A significant metro Houston deal closed in December when Stonepeak acquired a 2.3 million-square-foot logistics collection from Starwood Capital Group. The six-asset portfolio in La Porte, Texas, traded for $244 million.
Two months earlier, MDH Partners purchased Link Logistics’ Cedar Port IKEA in Baytown, Texas. The 996,482-square-foot industrial park comprises two facilities that came online in 2017.
