CONROE, Texas – (Realty News Report) – Lovett Industrial, a Houston-based real estate investment firm, and Cresset Partners, a North American real estate investment manager, started construction on NorthPort Logistics Center, a 1.2 million SF logistics facility in Conroe, north of Houston.
The 75-acre development will be located on approximately 75 acres of land located within Conroe Business Park.
The new project will be less than one hour drive to the Port of Houston, and a central location with the ability to reach an estimated 28 million people by truck within 24 hours.
“Houston is the latest US logistics market to emerge into a true regional distribution hub, and we feel that Conroe is the best regional location in the greater Houston area for regional and national distribution requirements,” said Charlie Meyer, President of Lovett Industrial. “Due to the dramatic growth that the Port of Houston is experiencing we are seeing more port-related large format requirements than ever city-wide. Conroe is one of the fastest growing cities in the US, has a business friendly environment, and the location checks every box a major distributor would have relating to access, infrastructure, available incentives, and availability of labor. We are fortunate to be able to partner with the City of Conroe on this … project.”
A massive expansion of the waterway at the Port of Houston is underway, enabling the port to receive larger cargo ships. Some experts have suggested that logjams at the West Coast ports in Los Angeles and Long Beach – which were blamed in part for the supply-chain crisis – will drive Asian shipping traffic to Houston.
Construction on the Conroe is set to be completed in second quarter of 2023. The project is located in the heart of Conroe Park North, a master-planned 1,655-acre business park that is home to more than 30 companies and 3,000 employees. The business park features newly constructed four-lane roads, municipal utilities and direct access to three full interchanges on Interstate 45.
Marketing and leasing efforts for NorthPort Logistics Center will be exclusively handled by Nathan Wynne, Jason Dillee, and Ed Frantz of CBRE. Construction financing is being provided by Citizens. Alston Construction is the General Contractor, Powers Brown Architecture is the lead architect, and Conroe-based Bleyl Engineering is the project’s civil engineer.
“We’ve partnered with Lovett Industrial because of their dedication in developing projects that simultaneously satisfies current demand in the logistics space, while also considering long-term growth for the Houston area,” Dominic DeRose, Director at Cresset Real Estate Partners.
Houston developer Frank Liu, is co-founder of Lovett Industrial, which has built projects for Amazon. Years ago, Liu gained notable success with infill townhomes with Lovett Homes. His organization has also been active in retail and redeveloped the Post Office on Franklin Street in downtown Houston.
Earlier this year, Lovett Industrial broke ground on a 3 million SF project in Tomball.
Sept. 15, 2022 Realty News Report Copyright 2022
File – Huge Project Underway in Conroe
Photo Credit: Rob Greer Photography
File 2: Lovett Industrial. Huge Project Underway in Conroe. Frank Liu