WYLIE, Texas – (Realty News Report) – Lovett Industrial, a Houston-based real estate company and Cresset Partners, the Chicago-based real estate investment firm, broke ground on Wylie Business Center, a 274,416-SF industrial building in Wylie, in the Dallas area.
Construction of Wylie Business Center began in January 2023 and is expected to be completed December 2023. The spec building will feature a 36’ clear height, 55 dock-high doors, 185-foot truck courts, 77 trailer stalls, and 154 auto parks.
Lovett Industrial Team: Charlie Meyer and Frank Liu
In the Houston area in 2021, Lovett Industrial completed developed 1.3 million SF in Fort Bend County for Amazon.
For many years, Frank Liu’s Lovett real estate organization has been a major player in infill housing. Liu demonstrated the ability to identify Inner Loop neighborhoods that were ripe for new townhome construction by Lovett Homes and InTown Homes. With Lovett Industrial, Liu is in partnership with industrial development veteran Charlie Meyer, who spent years working at Hines.
Wylie Project to Energize Northeast Dallas Region
Colby Everett, Director at Lovett Industrial commented, “This project is positioned to boost logistics capabilities in Wylie and the surrounding Northeast Dallas municipalities.”
Located along State Highway 78, Wylie Business Center is situated within the rapidly expanding northeast side of Dallas and the greater Collin, Rockwall, and Dallas Counties. Wylie Business Center stands to benefit from the submarket’s significant rent growth due to strong fundamentals.
Industrial marketing efforts for Wylie Business Center are exclusively handled by Nathan Orbin, Kurt Griffin, and Dalton Knipe of JLL. Retail marketing will be handled by Tom Grunnah of Younger Partners. Construction financing is being provided by First National Bank of Omaha. The Conlan Company is the general contractor, Ware Malcomb is the lead architect, and Kimley Horn is serving as the project’s civil engineer.
Wylie Business Center is Lovett Industrial’s fifth industrial development in the greater Dallas-Fort Worth area; other projects include Innovation Ridge Logistics Park, Texport Logistics Center, Lovett 35 Logistics Park, and Trinity West Phases I & II, which comprise approximately 4.8 million SF of completed space. Lovett Industrial currently is active in 6 additional markets across the U.S. and has more than 7 million SF of projects currently under construction companywide.
April 9, 2023 Realty News Report Copyright 2023
Photo: Courtesy Lovett and Cresset.
Caption – Lovett Breaks Ground in Wylie for Groundbreaking Photo (L-R)
- Aaron Jameson, Wylie EDC Board
- Mayor Pro Tem Jeff Forrester
- Mayor Matthew Porter
- Charlie Meyer, Co-owner and President, Lovett Industrial
- Brent Parker, City Manager,City of Wylie
- Renae’ Ollie, Deputy City Manager, City of Wylie
- Jason Greiner, Wylie EDC
- Colby Everett, Director, Lovett Industrial
- Gino Mulliqi, Wylie EDC Board
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File: Lovett Breaks Ground in Wylie