CONROE, Texas – (Realty News Report) – Lovett Industrial, a Houston-based real estate investment firm, and Cresset Partners, a North American real estate investment manager, have begun construction on NorthPort Logistics Center, a 1.2 million square-foot logistics hub in Conroe, north of Houston.
The development will occupy roughly 75 acres within Conroe Business Park and is designed to serve regional and national distribution needs.
Strategically positioned less than an hour’s drive from the Port of Houston, the site offers strong transportation advantages and is centrally located to reach an estimated 28 million people by truck within 24 hours, making it attractive to large-scale distribution operators.
“Houston has emerged as a true regional distribution hub, and we believe Conroe is the best regional location in the greater Houston area for both regional and national distribution requirements,” said Charlie Meyer, President of Lovett Industrial. “With the significant growth the Port of Houston is experiencing, we are seeing more port-related, large-format requirements than ever across the city. Conroe is among the fastest growing cities in the U.S., offers a business-friendly environment, and delivers the access, infrastructure, incentives, and labor availability that major distributors require. We are fortunate to partner with the City of Conroe on this project.”
A major expansion of the Port of Houston’s waterway is underway, allowing the port to accommodate larger cargo ships. Industry observers have suggested that congestion and delays at West Coast ports such as Los Angeles and Long Beach could shift more Asian import traffic to Gulf Coast gateways like Houston, increasing regional demand for logistics capacity.
Construction of NorthPort Logistics Center is scheduled for completion in the second quarter of 2023. The project is located within Conroe Park North, a master-planned, 1,655-acre business park that hosts more than 30 companies and roughly 3,000 employees. Conroe Park North features newly constructed four-lane roads, municipal utilities, and direct access to three full interchanges on Interstate 45, supporting efficient freight movement and employee commutes.
Marketing and leasing for NorthPort Logistics Center will be handled exclusively by Nathan Wynne, Jason Dillee, and Ed Frantz of CBRE. Construction financing is being provided by Citizens. Alston Construction serves as general contractor, Powers Brown Architecture is the lead architect, and Conroe-based Bleyl Engineering is the project’s civil engineer.
“We partnered with Lovett Industrial because of their commitment to delivering projects that meet current logistics demand while planning for long-term growth in the Houston region,” said Dominic DeRose, Director at Cresset Real Estate Partners.
Lovett Industrial’s leadership includes co-founder Frank Liu, a Houston developer whose past projects have ranged from infill townhomes with Lovett Homes to retail developments and the adaptive reuse of downtown properties such as the former Post Office on Franklin Street. The firm has also developed large-scale industrial projects for major tenants, including Amazon.
Earlier in the year, Lovett Industrial broke ground on a separate 3 million square-foot logistics project in Tomball, reflecting the firm’s continued expansion across the Houston industrial market.
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