Lincoln Property Purchased Houston Greenspoint Mall Site
The shuttered shopping center will be demolished to make way for a $150 million industrial park in North Houston.
Updated on Oct. 3, 2026 in Openings & Closings
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Lincoln Property Co and New York Life Investment Management acquired the former Greenspoint Mall, which closed in 2024. The developers plan to raze the structure to build the CityNorth Industrial Park.
Why it matters
The project aims to return the long-declining site to productive use following years of rising crime, including shootings in 2017, 2022, and 2023. It utilizes financial support from the City of Houston's Greater Greenspoint Tax Increment Reinvestment Zone.
The redevelopment encompasses 1.2 million square feet and represents a $150 million investment. The site will feature a new 45,500-square-foot fitness facility for Fitness Connection.
The players
Lincoln Property Co
A Dallas-based real estate firm that specializes in the acquisition and redevelopment of commercial properties.
New York Life Investment Management
An asset management firm that partnered with Lincoln Property Co to finance the redevelopment.
Fitness Connection
A gym operator that will maintain a presence on the redeveloped site in a new facility.
City of Houston
The local municipal government providing assistance for the project through its tax reinvestment zone.
The details
The site will be razed to the ground to clear space for a mix of industrial buildings, retail, and service spaces. While most of the mall will be removed, the new fitness center will serve as a continuing anchor for the property.
Timeline
The shopping center was a thriving business throughout the 1970s.
Greenspoint Mall officially closed its doors in 2024.
Demolition of the existing structures is scheduled for October 2026.
The first phase of the industrial park construction is expected to start in early 2028.
Market Landscape
This project follows the industry trend of repurposing obsolete retail real estate for industrial and logistics use. It signals a move away from traditional brick-and-mortar retail in areas experiencing long-term commercial decline.
Local residents can expect the removal of a long-vacant facility that had become a site for recurring criminal activity. The project is projected to support 300 construction jobs and 1,200 full-time roles upon completion.
The takeaway
Large-scale redevelopment projects often serve as a tool for urban renewal in areas struggling with high crime and business abandonment. Future industrial parks offer the potential for job creation that traditional retail centers could no longer sustain at this location.
Further reading
For more on changes to the local retail environment, see Openings & Closings.
Source note: This article includes information reported by Mail Online.
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