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Aldine Westfield Road And F...

Khizar Hanif, Ian Farmer & Shaheed Kajani Acquire Development Site In Houston With Buyer's Rep James Mashni
SOLDDevelopment Site

Khizar Hanif, Ian Farmer & Shaheed Kajani Acquire Development Site In Houston With Buyer's Rep James Mashni

Aldine Westfield Road And Farrell Road

Building Size

573,000 SF

Asset Type

Development Site

Closing

Mar 30, 2026

AI

The transaction involves a development site located at Aldine Westfield Road & Farrell Road in the Houston market. The asset encompasses 573,000 square feet with a buildable square footage (BSF) of 140,000. The property spans 6 acres, and Blackhawk Real Estate Partners has acquired it for industrial development. The site is strategically located to enhance accessibility to major transportation infrastructure, including the proximity to IAH and Beltway 8.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: Not disclosed
  • Address: Aldine Westfield Road & Farrell Road
  • Market: Houston
  • Asset Size: 573,000 SF
  • Buildable Square Footage: 140,000 BSF
  • Buyer: Khizar Hanif, Ian Farmer & Shaheed Kajani
  • Buyer's Representative: James Mashni - First Houston Properties
  • Seller's Representative: Nathan Wynne - CBRE
  • Date of Transaction: 03/30/2026

Blackhawk Real Estate Partners is actively pursuing the acquisition of an additional 7.5 acres adjacent to the existing property, aiming for a combined total of 13.5 acres for their development plans. The intended project includes single-tenant manufacturing facilities with several features tailored for industrial users, such as high-power service, 32-foot clear heights, and a 20-ton crane capacity.

Players

Nathan Wynne

CBRE

Broker

$170.5K

vol

21 deals

Broker

Houston Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93