Clay Duvall And David Binswanger Of Lincoln Property Company Acquire Retail Site For CityNorth Industrial Park

The asset involved in this transaction is an 80-acre retail property located at 12300 North Freeway in Houston, TX. The property was previously the Greenspoint Mall and is set for redevelopment into CityNorth Industrial Park, an industrial campus comprising 1.2 million square feet with an investment of $150 million.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: Not specified
• Buyers: Clay Duvall & David Binswanger - Lincoln Property Company; Naïm Abou-Jaoudé - New York Life Real Estate Investments Management
• Seller: Triyar Cannon Group
• Broker: Jim Vann - Moody Rambin
• Development Plan: Redevelopment into CityNorth Industrial Park
• Demolition Start: Next month
• First Phase Delivery: Expected in Q1 2028
• Tenant Commitment: Fitness Connection for a 45,500-square-foot build-to-suit lease

The buyers, Clay Duvall and David Binswanger from Lincoln Property Company and Naïm Abou-Jaoudé from New York Life Real Estate Investments Management, aim to transform the former mall site. The redevelopment project has a significant financial commitment, and major steps like demolition and leasing agreements are already in progress, highlighting the strategic vision behind this acquisition.