October 16, 2025 – Houston Woodlands is a 4-building, 244,946sf portfolio located in the Woodlands and Spring submarkets of Houston, TX. The portfolio is 88% occupied, consisting of 55 suites averaging 4,454sf per suite, with oversized grade-level doors and 17’-18’ clear heights. In addition to the market’s record-low supply, CenterSquare has an existing 9-property service industrial portfolio, Gateway Industrial Commons, in the Houston MSA, which speaks to CenterSquare’s extensive knowledge and access to data specific to the Houston market.
In addition to acquiring the property below replacement cost, the business plan consists of a capital improvement plan including minor roof repairs, concrete repairs, and adding HVAC where needed. These improvements, combined with our institutional management, will allow CenterSquare to successfully execute its value-add strategy and drive meaningful growth in net operating income.
This transaction is the second Service Industrial investment in the latest fund in CenterSquare’s Value-Add Strategy, bringing our total service industrial portfolio to more than 1.6 million square feet.
“This portfolio provides a critical mass of assets well-positioned to service the dense and growing population in the surrounding Houston submarkets,” said Vice President of Private Equity Real Estate, Victoria Bocanegra. “We’ve been able to continue expanding our portfolio in this major growth market and create value for investors through the benefits that come with building scale.”
