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
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