{"id":1004812859,"date":"2026-09-23T06:11:50","date_gmt":"2026-09-23T14:11:50","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004812859"},"modified":"2026-09-23T06:11:52","modified_gmt":"2026-09-23T14:11:52","slug":"lincoln-jv-buys-houston-mall-plans-150m-industrial-makeover","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/lincoln-jv-buys-houston-mall-plans-150m-industrial-makeover\/","title":{"rendered":"Lincoln JV Buys Houston Mall, Plans $150M Industrial Makeover"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6ab5577d5a75c&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"1532\" height=\"1149\" data-attachment-id=\"1004812862\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/lincoln-jv-buys-houston-mall-plans-150m-industrial-makeover\/citynorth-industrial-park-lincoln\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/09\/CityNorth-Industrial-Park-Lincoln.jpg\" data-orig-size=\"1532,1149\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"CityNorth-Industrial-Park-Lincoln\" data-image-description=\"&lt;p&gt;Rendering received via e-mail from Carey Marin, president &#038; CEO at Purpose Media Group and PR for Lincoln.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The first phase of Greenspoint Mall\u2019s redevelopment, dubbed CityNorth Industrial Park, is slated for completion in the first quarter of 2028. Rendering courtesy of Lincoln Property Co. &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/09\/CityNorth-Industrial-Park-Lincoln.jpg?w=1024\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/09\/CityNorth-Industrial-Park-Lincoln.jpg\" alt=\"Exterior rendering of CityNorth Industrial Park, Greenpoint Mall's industrial redevelopment by Lincoln and New York Life.\" class=\"wp-image-1004812862\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/09\/CityNorth-Industrial-Park-Lincoln.jpg 1532w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/09\/CityNorth-Industrial-Park-Lincoln.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/09\/CityNorth-Industrial-Park-Lincoln.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/09\/CityNorth-Industrial-Park-Lincoln.jpg?resize=1024,768 1024w\" sizes=\"auto, (max-width: 1532px) 100vw, 1532px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">The first phase of Greenspoint Mall\u2019s redevelopment, dubbed CityNorth Industrial Park, is slated for completion in the first quarter of 2028. <em>Rendering courtesy of Lincoln Property Co. <\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Lincoln Property Co. and New York Life Investment Management have acquired Greenspoint Mall, a former retail asset in Houston. Triyar Cannon Group sold the property, according to Yardi Matrix. The new owners plan to redevelop the property into CityNorth Industrial Park, a $150 million, 1.2 million-square-foot industrial campus.<\/p>\n\n\n\n<p>The development team includes Powers Brown Architecture, Kimley-Horn and E.E. Reed Construction. Northmarq advised Lincoln on the joint venture with New York Life, while Moody Rambin brokered the deal, supported by an in-house Lincoln team. Another Lincoln crew handles leasing.<\/p>\n\n\n\n<p>Demolition will begin next month, with the first phase of the industrial development expected to come online in the first quarter of 2028. The mall was once the largest in Houston; however, it shuttered its stores in 2024.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>LISTEN<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/investment-matters-frank-talk-about-opportunity\/\" data-type=\"link\" data-id=\"https:\/\/www.commercialsearch.com\/news\/investment-matters-frank-talk-about-opportunity\/\">Investment Matters: Frank Talk About Opportunity<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Notably, one of the former mall\u2019s retail tenants, Fitness Connection, will lease a 45,500-square-foot, build-to-suit facility at the future CityNorth Industrial Park. The gym operator\u2019s lease at the previous retail property ran until 2030.<\/p>\n\n\n\n<p>Located on an 80-acre site at 12300 North Freeway, the property is at the northeast corner of Interstate 45 and Beltway 8. George Bush Intercontinental Airport operates about 7 miles away. Part of the former mall, a vacant Sears Auto Center, has already pivoted toward new uses with ZG Cos.\u2019 opening of a 325-unit affordable community late last year.<\/p>\n\n\n\n<p>This isn\u2019t Lincoln\u2019s first project in the Greenspoint neighborhood. In 2017, the company acquired the former 2.1 million-square-foot offices of ExxonMobil, kicking off a renovation project and dubbing the campus CityNorth.<\/p>\n\n\n\n<p>Northmarq Senior Vice President &amp; Managing Director Warren Hitchcock arranged the Lincoln New York Life joint venture. Moody Rambin Senior Vice President Jim Vann brokered the mall\u2019s acquisition, with Lincoln Executive Vice Presidents Zach Thomas and Director Luke Evans supporting the transaction. Lincoln Executive Vice President Kevin Wyatt and Leasing Representative Robert Willard, as well as Associate SuAnna Sanchez, oversee leasing.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-completions-slump-pipeline-remains-high\">Completions slump, pipeline remains high <\/h2>\n\n\n\n<p>The new project lands as <a href=\"https:\/\/www.commercialsearch.com\/news\/top-markets-for-industrial-deliveries\/\" data-type=\"link\" data-id=\"https:\/\/www.commercialsearch.com\/news\/top-markets-for-industrial-deliveries\/\">industrial deliveries<\/a> dwindled across Houston\u2019s North submarket, with just 153,384 square feet of new product coming online in the second quarter, according to a <a href=\"https:\/\/www.cbre.com\/insights\/figures\/houston-industrial-figures-q2-2026\" data-type=\"link\" data-id=\"https:\/\/www.cbre.com\/insights\/figures\/houston-industrial-figures-q2-2026\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">CBRE report<\/a>. For reference, the entire market witnessed the completion of 5.7 million square feet.<\/p>\n\n\n\n<p>However, the North submarket still had nearly 4 million square feet of industrial projects underway as of June, representing 22.4 percent of the entire metro\u2019s pipeline and suggesting the quarterly completion slump may be temporary.<\/p>\n\n\n\n<p>One such project is the North Airport Logistics Center, a 476,000-square-foot development by Buchanan Capital Partners. The developer <a href=\"https:\/\/www.commercialsearch.com\/news\/buchanan-hanover-team-up-for-logistics-development\/\" data-type=\"link\" data-id=\"https:\/\/www.commercialsearch.com\/news\/buchanan-hanover-team-up-for-logistics-development\/\">partnered with The Hanover Co.<\/a> for this property, marking the duo\u2019s first joint venture.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The former shopping center was once the largest in the market.<\/p>\n","protected":false},"author":3471,"featured_media":1004812862,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,1589,21748,21783,21742,21749,51973],"tags":[36286,34930,42530,33816,50380,36732],"class_list":["post-1004812859","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-houston","category-industrial","category-investment","category-latest","category-retail","category-southwest","tag-kimley-horn","tag-lincoln-property-co","tag-moody-rambin","tag-new-york-life","tag-northmarq","tag-powers-brown-architecture"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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