Hines has acquired 107 acres adjacent to the Sam Houston Race Park for a business park planned for 1.5 million square feet of industrial and logistics space in northwest Houston.

The deal is one of two projects announced this week to meet a growing demand for state-of-the-art distribution space across greater Houston.

The property, purchased from longtime owner Maxxam Inc., is at the southeast corner of the Sam Houston Tollway and Gessner Road.

Plans are being finalized for the two-phase Grand National Business Park, which will offer tenants access to a planned retail center and business-class hotel along Beltway 8. The first phase, consisting of 500,000 square feet of logistics space, will break ground by year end, Hines said.

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