Lincoln and New York Life Acquire Greenspoint Mall Site, Announce $150M CityNorth Industrial Park

HOUSTON - September 22, 2026 - Lincoln, in partnership with New York Life Investment Management, today announced the acquisition of the Greenspoint Mall site and unveiled plans for CityNorth Industrial Park. Located at 12300 North Freeway on the northeast corner of Interstate 45 and Beltway 8, the $150 million redevelopment will transform approximately 80 acres into 1.2 million square feet of cross-dock and rear-load industrial buildings, along with retail and service uses.

"Greenspoint Mall was an important part of North Houston for nearly five decades, and its redevelopment represents a defining opportunity for the area," said Kevin Wyatt, Executive Vice President for Lincoln. "CityNorth Industrial Park will return a prominent property to productive use and support the continued growth of the Greenspoint community."

CityNorth Industrial Park's proximity to Interstate 45, Beltway 8 and the Hardy Toll Road positions it to serve Houston's growing logistics and industrial demand, with connections to the region's major population and employment centers. Based on current project estimates, the development is expected to support approximately 300 construction jobs and accommodate 1,200 full-time jobs when fully developed.

"The scale of this site gives us the flexibility to accommodate a range of users," said Gabe Lerner, Executive Vice President for Lincoln. "CityNorth will serve large logistics and distribution operations as well as smaller companies seeking a strategic North Houston location."

The project builds on broader public and private investment in the Greenspoint area. The city of Houston created the Greater Greenspoint Tax Increment Reinvestment Zone to support revitalization through infrastructure, mobility and other public improvements, including the redevelopment of the former mall. Lincoln is working closely with the city and the North Houston District as plans move forward.

"As a longtime Houston resident, I have witnessed both the proud days of Greenspoint Mall and the unfortunate neglect the mall and the Greenspoint community have suffered for too long," said Houston Mayor John Whitmire. "I have worked hard with Lincoln and other stakeholders to make Greenspoint and, by extension, the Aldine ISD community regain its once proud stature with the redevelopment that will bring us the CityNorth Industrial Park. This redevelopment will create new jobs, attract businesses, and improve the quality of life in Greenspoint. Combined with the upcoming Houston Police North Belt Station and the Fire Department's Station 84, the CityNorth Industrial Park is one more example that Houston is going in the right direction."

Fitness Connection will remain at CityNorth in a new 45,500-square-foot build-to-suit facility planned as part of the redevelopment.

Powers Brown Architecture is the project architect, Kimley-Horn is the civil engineer and E.E. Reed Construction is the general contractor. Northmarq's Warren Hitchcock advised on the joint venture partnership with New York Life. Lincoln's Kevin Wyatt, Robert Willard and SuAnna Sanchez are handling leasing with Lincoln's Zach Thomas, Executive Vice President of Capital Markets, and Luke Evans, Director of Capital Markets, supporting the transaction. Jim Vann of Moody Rambin provided brokerage services.

Demolition of the mall is expected to begin in October 2026, with the first phase of CityNorth Industrial Park scheduled for completion in the first quarter of 2028. Additional details about the site plan, buildings and leasing opportunities will be announced as development progresses.

About Lincoln Property Company

Lincoln Property Company ("Lincoln") is one of the largest private real estate firms in the United States. Offering a fully integrated platform of real estate services and innovative solutions to owners, investors, lenders and occupiers, Lincoln supports the entire real estate lifecycle across asset types, including office, multifamily, life science, retail, industrial, data center, production studio, healthcare, government, universities, sports and entertainment, and mixed-use properties, throughout the United States, United Kingdom, and Europe. Lincoln's combined management and leasing portfolio on behalf of institutional clients includes more than 720 million square feet of commercial space. For more information, visit: www.lpc.com.

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