Texas CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Foxconn Buys Houston Industrial Park, to Invest $450M in Site
Global electronics maker, Foxconn Corp. acquired the four-building, 1 million-square-foot, Class A Fairbanks Logistics Park in northwest Houston from Dalfen Industrial for $142 million. Dalfen acquired the Fairbanks Logistics Park for $90.6 million in July 2023.
The Greater Houston Partnership says Foxconn plans to invest $450 million at the 86.3-acre industrial park to build an AI server manufacturing facility. The Foxconn facility is expected to create 600 direct jobs.
The transaction was brokered on Dalfen’s behalf by Stream Realty’s Garrett Geaccone, Jeremy Lumbreras, and Tyler Maner. Reggie Beavan and Joshua Brown of Newmark Group, Inc. represented Foxconn.
Foxconn’s purchase of Fairbanks Logistics Park coincides with Apple Inc. and Nvidia Corp.’s recent announcement of new production facilities in the area. Foxconn supplies high-tech components for both firms.
Apple plans to build a 250,000-square-foot server manufacturing facility scheduled to open in 2026.
- ◦Sale/Acquisition
