JLL closes sale of 462K SF logistics building in Houston's Northeast submarket

HOUSTON, Sept. 25, 2025 –  JLL Capital Markets announced today the sale of PortNorth 59, a 462,250-square-foot Class A logistics building located at 7491 Rankin Rd. in Humble, Texas.

JLL represented the seller, Phelan Bennett Development, in the transaction. STAG Industrial Inc. acquired the asset.

The cross-dock distribution facility, which was delivered in the fourth quarter of 2024, sits on 22.2 acres and features 36-foot clear heights, 84 dock doors with 40,000-pound pit-levelers and four drive-in doors measuring 12 feet by 14 feet. The building includes 17,984 square feet of office space, representing 3.9 percent office finish, 231 car parking spaces and 101 trailer parking spaces within a fenced truck court spanning 180 feet. PortNorth 59 achieved full occupancy within five months of delivery, securing two quality tenants.

The property benefits from its proximity to George Bush Intercontinental Airport, located just 3.7 miles from the terminals. This strategic positioning capitalizes on the airport's cargo operations, which handle more than 1,100 metric tons daily, and serves tenants requiring intermodal transport logistics connectivity. The facility provides direct access to Interstate 59 and lies within two miles of Beltway 8, enabling efficient distribution throughout the broader Houston metropolitan area.

The JLL Capital Markets team was led by Industrial Group Leader and Senior Managing Director Trent Agnew, Managing Director Charles Strauss, Director Lance Young and Analysts Brooke Petzold and Dawson Hastings.

"The rapid lease-up of PortNorth 59 demonstrates the exceptional demand for newly constructed, institutional-quality industrial space in Houston's Northeast submarket," said Agnew. "With limited supply of newly constructed Class A properties and exceptional leasing fundamentals driving the market, investors continue to recognize the long-term value proposition of Houston industrial real estate."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

Phelan Development is a privately held real estate company that specialized in the acquisition, development, and management of high-quality industrial, office, retail and mixed use projects throughout the United States. Our talented team has led and developed in excess of 7.5 billion dollars worth of development. 

STAG Industrial, Inc. is a real estate investment trust focused on the acquisition, development, ownership, and operation of industrial properties throughout the United States. As of June 30, 2025, the Company’s portfolio consists of 600 buildings in 41 states with approximately 118.3 million rentable square feet. For additional information, please visit the Company’s website at www.stagindustrial.com.