Lovett Industrial, the Houston-based real estate investment firm, has announced three new projects in the greater Dallas-Fort Worth metropolitan area, consisting of four warehouses totaling approximately 2.7 million square feet, which are 25% pre-leased.
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Lovett 35 Logistics Park (Photo: Business Wire)
Construction is currently underway at Texport Logistics in Wilmer, TX, Lovett 35 Logistics Park in the Alliance submarket of north Fort Worth, and Phase I of Trinity West Business Park, located in the West Dallas submarket of Dallas. Texport Logistics is a 40’ clear, 826,620 square foot class A cross-docked facility located in Wilmer, TX that broke ground in June of 2021, slated for completion in March of 2022. The building is available for lease and is approximately 60% complete. Lovett 35 Logistics Park in Alliance consists of two buildings, a 215,000 square foot rear-loaded building and a 646,250 square foot cross-dock building, located along Keller Haslet Road, about 1,000 feet to the east of a full interchange at Interstate 35. Estimated to be completed in June 2022, Lovett 35 Logistics Park is 75% pre-leased to an undisclosed tenant. Trinity West Business Park is located on the north-west corner of Norwich Street and Singleton Boulevard in Dallas, TX; Phase I consists of a 40’ clear, 1,005,200 square foot cross-dock building, including 195’ truck courts, and has an estimated completion date of August 2022. With foundation work underway, the project is actively fielding requirements for lease.
Charlie Meyer, President of Lovett Industrial commented, “In an environment where it is becoming more and more difficult to find actionable industrial land in all markets, we feel very fortunate to have these projects underway in one of the most active markets in the US, and are grateful for the support we have received from our extended team of brokers, attorneys, consultants, lenders, and investors. A special thanks to Kurt Griffin and Nathan Orbin at Cushman & Wakefield for assisting us with the land acquisitions in Alliance and South Dallas, Brad Struck and Jim Hazard at ESRP for bringing us a great tenant in Alliance, and for the countless hours of advice, guidance, and support provided by Steve Berger at CBRE on our Trinity West Business Park project. We are excited to be growing rapidly across the Dallas-Fort Worth market, which we believe will continue to exhibit strong fundamentals for years to come.”
Marketing efforts for Lovett 35 Logistics Park are exclusively handled by Kurt Griffin and Nathan Orbin of Cushman & Wakefield. Trinity West Business Park is exclusively listed by Steve Berger of CBRE. General Contractors on the respective projects include MYCON General Contractors (Lovett 35 Logistics Park), The Conlan Company (Trinity West Business Park), and Alston Construction (Texport Logistics). The architect of record for the three projects is Ware Malcomb and the civil engineer is Kimley Horn.
About Lovett Industrial:
Founded in 2020 and based in Houston, Texas, Lovett Industrial is a privately held vertically integrated logistics real estate investment platform that seeks to develop and acquire industrial real estate assets that are differentiated by their quality, location, and functionality. Currently active in 6 markets across the United States, Lovett Industrial’s portfolio consists of approximately 5.7 million square feet of completed and under construction warehouses and in excess of 10 million square feet of warehouses planned for future development. Lovett Industrial’s founders have combined over 60+ years of experience in the commercial and industrial real estate sectors. For more information, please see our website at https://lovettindustrial.com/.
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