Partners Capital Buys Houston Industrial Asset

Partners Capital, the investment platform of Partners Real Estate, has acquired Dixie Farm Business Park, a 196,000-square-foot flex/retail property in Houston. The company purchased the property through Opportunity Fund V, marking the fourth purchase made via the fund.

WMF Investments sold the asset, according to CommercialEdge data. The acquisition was financed by Veritex Community Bank. Partners Capital’s Asset Management plans to undertake significant capital improvements to boost both the functionality and aesthetic appeal of the property.

Completed in two phases in 2000 and 2002, Dixie Farm Business Park encompasses eight buildings spread on some 14 acres. The property features 36,900 square feet of retail space, insulated ceilings, climate control, 17 and 22 clear heights, loading doors and approximately 315 parking spaces.

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Partners Opportunity Fund V targets high-quality industrial, retail and office properties in major Texas and southeastern U.S. markets. During the past eight years, Partners Capital sponsored seven funds, executed more than $600 million in transactions, and currently manage a portfolio exceeding 1.4 million square feet in these regions.

Through its Partners Investment Fund IV, Partners Capital acquired Mitchelldale Business Park, a 377,752-square-foot industrial flex property in Houston, back in March 2023. Hartman sold the 12-building portfolio. The purchase was financed with a loan provided by Origin Bank.

Houston’s industrial scene

Located at 15255 Gulf Freeway, Dixie Farm Business Park is in Houston’s Clear Lake submarket. The property is near Interstate 45, which allows easy access across the Houston metropolitan area.

Houston has ranked third nationally in industrial sales volume, with approximately $2.8 billion during the first 11 months of 2024, according to a recent CommercialEdge report. The metro was also among the regional leaders in square footage under construction, with more than 12.3 million square feet.