September 29, 2026 – Beltway 249 Business Center is a 107,020sf infill service industrial property situated in the Hwy 290/Tomball Pkwy submarket of Houston, TX. The 3-building, 62% occupied property features an average suite size of 4,116sf, 14’-22’ clear heights, and oversized grade-level loading doors. Located at the intersection of Beltway 8 and Highway 249, the property can access 45% of the MSA’s population within 30 minutes.
The portfolio was acquired off-market, with CenterSquare’s proactive, relationship-oriented approach ultimately securing the investment opportunity. The business plan contemplates spending additional capital to reposition the vacant suites to drive leasing velocity and stabilize the property’s occupancy. Additionally, we intend to complete various capital improvements such as monument signage, concrete repairs, and any deferred maintenance on an as-needed basis. “We are excited to add a third ESI investment in the Houston market,” said Victoria Bocanegra of CenterSquare’s Private Real Estate team. “We remain highly confident in the sector and continue to identify opportunities off-market to expand our Essential Service Industrial portfolio.”
This transaction is the sixth Essential Service Industrial investment in CenterSquare’s latest Value-Added Fund, bringing our total service industrial investment track record to more than 2.9 million square feet.
