Lovett Industrial, a recently formed national industrial real estate investment firm, has announced the completion of three warehouses totaling approximately 1.6 million square feet, 95% pre-leased in the Greater Houston area.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211101005862/en/
Fort Bend Business Park (Photo: Business Wire)
Two of the projects, totaling approximately 1,300,000 sf were completed on behalf of a global ecommerce company, including a single approximate 1,075,000 sf building in Lovett’s Fort Bend Business Park in Missouri City, TX and a 220,000 sf facility within Lovett’s 99 North Logistics Park in Spring, TX. Both facilities were completed on schedule, under budget and are on long term leases to the tenant. The third project is known as NOVA Logistics Park, in homage to the site’s former long-time occupant NOV, and the project included the redevelopment of an obsolete and vacant manufacturing facility into a Class A 326,000 sf cross dock facility in partnership with the City of Sugarland, located on 24 acres inside Sugarland Business Park. NOVA Logistics Park is currently 50% leased to Boise Cascade Building Materials Distribution, a national building materials distributor for the residential and commercial construction industry.
Charlie Meyer, President of Lovett Industrial stated, “We are very fortunate to have experienced a tremendous amount of success in the short life span of our company and are grateful to our tenants and project partners for their trust. We have assembled a team of professionals at Lovett that are capable of taking on projects of any scale, coast-to-coast, and we continue to build momentum towards our goal of becoming a leading national industrial real estate firm in all respects.”
Marketing efforts for NOVA Logistics Park and Fort Bend Business Park are exclusively handled by Jim Foreman and Allison Bergmann of Cushman & Wakefield. 99 North Logistics Park is exclusively listed by Jarret Venghaus, David Buescher, and David Holland of JLL.
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/.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211101005862/en/
Contacts
Paige Chiang
paige.chiang@lovettindustrial.com
