Lovett Industrial, the Houston-based real estate investment firm, broke ground on Innovation Ridge Logistics Park, a three-building class A industrial business park consisting of 1.1 million square feet located in Forney, Texas. The groundbreaking ceremony included remarks from Lovett Industrial’s Co-Owner and President, Charlie Meyer, and the Mayor of Forney, Amanda Lewis.
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Left to Right: Fred Alexander, Forney EDC Board Director; Lynn Spencer, Forney EDC Executive Director; The Honorable Amanda Lewis, Mayor of Forney, Charlie Meyer, Co-Founder, Chief Executive Officer Lovett Industrial; Colby Everett, Director Lovett Industrial; Mary Wilson, Forney EDC Specialist (Photo: Business Wire)
Located off U.S. Highway 80, Innovation Ridge Logistics Park will feature a diversified site plan, multiple points of ingress and egress, and a newly constructed four-lane road. Additionally, the Park stands to benefit from close proximity to a strong labor force and immediate adjacency to retail and amenities.
Construction began in September 2022 and will consist of three speculative buildings: an 817,538 square foot cross-dock facility, a 175,092 square foot single-load facility, and a 145,020 square foot single-load facility. The 817,538 square foot cross-dock facility will feature a 40’ clear height, 8” reinforced concrete slab, 164 dock-high doors, 185’ truck courts, and at least 166 trailer parks, tenant dependent. The two single-load buildings totaling 320,112 square feet will feature 32’ clear heights, 6” reinforced concrete slabs, 26-45 dock-high doors, 185’ truck courts and 26-47 trailer parks. Construction is slated for completion in September 2023, and the project is actively fielding requirements for lease.
Colby Everett, Director at Lovett Industrial, commented, “We are bullish on East Dallas, as fundamentals remain solid and important markers including population growth are very strong. National, regional, and local users can serve key markets from this location while benefiting from high-quality surrounding labor. There continues to be demand for class A logistics products across Dallas-Fort Worth, and we are excited to have the opportunity to partner with the City of Forney to deliver this project.”
Marketing efforts for Innovation Ridge Logistics Park are exclusively handled by Nathan Orbin, Kurt Griffin and Dalton Knipe of Cushman & Wakefield. Construction financing is being provided by Simmons Bank. Alston Construction is the general contractor, Ware Malcomb is the lead architect, and Kimley Horn is serving as the project’s civil engineer.
Innovation Ridge Logistics Park is Lovett Industrial’s fourth industrial development in the greater Dallas-Fort Worth area; other projects include Texport Logistics Center, Lovett 35 Logistics Park, and Trinity West Phase I, which comprise approximately 2.7 million square feet of completed space. Lovett Industrial currently is active in 6 additional markets across the U.S. and has more than 8.5 million square feet of projects currently under construction companywide.
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 7 markets across the United States, Lovett Industrial’s portfolio consists of approximately 12.3 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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Contacts
Paige Chiang
paigec@lovettindustrial.com
