Lincoln, New York Life plan $150M industrial park at Greenspoint

Lincoln Property Company and New York Life Investment Management plan a $150M industrial park on the shuttered Greenspoint Mall site in North Houston. The figure comes from the financing advisor’s own transaction page.

Why it matters

A dead regional mall near I-45 and Beltway 8 is being converted to warehouse space, not retail. The site sits close to the Hardy Toll Road, Bush Intercontinental Airport and the Port of Houston, which is the draw for distribution users.

For builders and subcontractors, the project is a large civil and vertical package. Press accounts name Powers Brown Architecture as architect, Kimley-Horn as civil engineer and E.E. Reed Construction as general contractor. We could not confirm those roles in a public filing.

Houston has no zoning, so the approvals that matter are plats, deed restrictions and city permits. A related look at Houston industrial supply is in our Aldine industrial coverage.

The numbers

Northmarq’s page puts the plan at $150M, with four Class A buildings and “over 1 million” sq ft. It does not state acreage, a completion date or jobs.

Press accounts, citing the developer, give about 80 acres at 12300 North Freeway and 1.2 million sq ft of cross-dock and rear-load buildings. They also cite about 300 construction jobs, 1,200 permanent jobs and a first phase in Q1 2028. All of these are developer projections.

Fitness Connection is reported to stay on site in a new 45,500 sq ft build-to-suit building.

We tried to pull the Harris Central Appraisal District record for the address and could not reach it. The first source here is therefore the company page, not an HCAD or clerk filing. The deed is not yet in our wire.

What’s next

Reports say demolition is expected to start in October. We have not seen a demolition permit, so we treat the start date as a plan.

Watch the Harris County Clerk for a recorded deed and any plat filing. Also watch whether the Greater Greenspoint TIRZ takes any role, which the Northmarq page does not address. Other Houston filings are on the Houston market hub.