Lovett Industrial Announces Groundbreaking of 121 Logistics Park
Lovett Industrial, a prominent real estate investment firm based in Houston, has taken an exciting step forward with the groundbreaking of the 121 Logistics Park. This substantial project encompasses a vast 27-acre urban infill development featuring two Class A logistics facilities, offering a total of 339,280 square feet of industrial space.
Strategically Located for Optimal Access
Situated conveniently off State Highway 121, 121 Logistics Park boasts immediate access to one of the major transportation corridors in the Dallas-Fort Worth area. The location is ideal for logistics and transportation activities, ensuring efficient operations for potential tenants. The specifications of both buildings are designed to meet the needs of today’s businesses. Building 1 is a 257,591 square foot rear loader equipped with a 36-foot clear height, 49 dock-high doors, and a spacious truck court designed for effective freight handling. Meanwhile, Building 2 will accommodate an 81,689 square-foot front loader with impressive specifications such as a 32-foot clear height and multiple loading docks.
A Partnership for Success
Bennett See, the Dallas-Fort Worth Market Leader, expressed enthusiasm about the project. He noted, "With high barriers of entry, close proximity to executive housing, and ample blue-collar labor, the North DFW Airport submarket is not only one of the most desirable areas within the Dallas Fort Worth industrial market but also one of the most sought-after industrial submarkets nationwide." See also emphasized the integral role played by the City of Coppell and the City of Lewisville in realizing this opportunity, showcasing a shared vision between Lovett Industrial and these cities.
Looking Ahead to Completion
The completion of 121 Logistics Park is anticipated in the third quarter of 2025, targeting a diverse range of tenants, with spaces available from 85,000 square feet to 339,000 square feet. This flexibility makes the logistics park suitable for businesses of varying sizes and operational needs.
Project Management and Collaborators
Marketing and leasing efforts for this new development will be overseen by Adam Graham and Alex Wilson from Lee & Associates, ensuring expert guidance during the leasing process. Financially backing the construction is Comerica Bank, a recognized name in the banking industry. Notable industry names are involved in the building phase, including Bob Moore Construction as the General Contractor. Additionally, Meinhardt & Associates Architecture will provide architectural guidance, with Kimley-Horn & Associates taking charge as the project’s civil engineer.
Expanding Lovett Industrial’s Reach
121 Logistics Park marks Lovett Industrial’s ninth project in the greater Dallas-Fort Worth area. The firm has built an impressive portfolio that includes previous developments such as Trinity West Phases I & II, Innovation Ridge Logistics Park, and Wylie Business Center, among others. Collectively, these projects represent over 5.4 million square feet of completed and under-construction logistics facilities in the region, showcasing Lovett Industrial's significant impact on industrial real estate.
About Lovett Industrial
Founded in 2020, Lovett Industrial functions as a vertically integrated logistics real estate investment platform. The company focuses on developing and acquiring high-quality industrial real estate that emphasizes superior functionality and prime location. Lovett Industrial actively engages in over 15 markets across the United States and currently oversees around 17 million square feet of warehouses that are either completed, acquired, or under construction. Furthermore, the company has an ambitious pipeline with over 10 million square feet targeted for future development. The experience of Lovett Industrial’s founders, collectively surpassing 60 years in the commercial and industrial real estate sectors, enriches the company’s vision and execution.
Frequently Asked Questions
What is the size of 121 Logistics Park?
121 Logistics Park covers 27 acres and will feature two logistics facilities totaling 339,280 square feet.
What are the expected completion dates for the park?
The park is expected to be completed by the third quarter of 2025.
Who are the key players involved in the development?
Key players include Bob Moore Construction as the General Contractor and Meinhardt & Associates Architecture as the lead architect and Kimley-Horn & Associates as the civil engineer.
What types of businesses will benefit from 121 Logistics Park?
The park is designed to accommodate tenants requiring warehouse spaces ranging from 85,000 square feet to 339,000 square feet.
How does this development fit into Lovett Industrial's overall portfolio?
This project is Lovett Industrial's ninth in the Dallas-Fort Worth area, adding to a portfolio of over 5.4 million square feet of logistics facilities.
