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Houston

Lovett Industrial pushes on with 567K spec project

2-year-old outfit has completed three project, has three other in works

Lovett Industrial’s Frank Liu and Charlie Meyer (Lovett Industrial, Getty)
Lovett Industrial’s Frank Liu and Charlie Meyer (Lovett Industrial, Getty)

Lovett Industrial’s eighth Houston area industrial development is underway.

After buying the 76-acre property in April 2021, the Houston-based has officially started construction on Nexus North Logistics Park. The 567,140-square-foot speculative distribution center is set to go up on Greens Road just west of Interstate 69 and north of Beltway 8, according to the Houston Business Journal.

Lovett told HBJ in an email that it aims to “capitalize on the strong tenant demand in Houston” with the project. Regionwide, vacancy was 6 percent in the third quarter. The metro’s industrial real estate market has seen nearly 19.4 million square feet of net absorption through the first three quarters of this year, with close to 15 million square feet of product delivered, according to Avison Young.

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Lovett Industrial, a separate but affiliated entity of the Lovett Group, was founded in February 2020 by two Lovett Group executives. Since launching, it has completed two warehouses for Amazon— one in Missouri City and the other in Spring, outside of Houston.

It also has three other projects under construction in the Houston metro: Interchange 249, a 240-acre business park in Tomball that will house a 908,000-square-foot Macy’s distribution center; the 1.2 million-square-foot NorthPort Logistics Center north of Conroe; and 610 Business District at Mykawa Road and Dixie Drive in southeast Houston.

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— Maddy Sperling

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Industrial Real Estate