Updated Jun 10, 2026
SOLDDevelopment Site
Jason Nunley Of Urban Logistics Realty & Kamal Bhatia Of Principal Asset Management Acquire Development Site In Houston
Veterans Memorial Drive
Building Size
—
Asset Type
Development Site
Closing
Jun 5, 2026
About this deal
AI
The property asset involved in this transaction is a development site located on Veterans Memorial Drive near Beltway, at the corner of West Road & Ella Boulevard in Houston, TX. The total buildable square footage for this site is 341,000. The site was acquired by a joint venture aiming to develop two industrial projects: the 182,400-square-foot Urban NXS Fallbrook and the 158,600-square-foot Urban NXS West. Both warehouses are strategically located near Interstate 45 and Beltway 8, with plans for construction to begin this summer and expected completion in Q2 2027.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: Not specified
- Address: Veterans Memorial Drive near Beltway, Corner of West Road & Ella Boulevard
- Market: Houston, TX
- Buildable Square Footage: 341,000
- Buyer: Jason Nunley - Urban Logistics Realty & Kamal Bhatia - Principal Asset Management
- Seller: The Aldine Independent School District
Jason Nunley represents Urban Logistics Realty in this transaction, while Kamal Bhatia serves as the representative for Principal Asset Management. The acquisition is part of a broader effort to capitalize on the increasing demand for industrial space in Houston, with both speculative warehouse projects set for future development.
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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