BroadRange Leases 1.2 million SF, Market briefs

In Conroe, Texas, BroadRange Logistics, a warehousing and distribution company, leased 1.2 million SF in the new Northport Logistics Center in Conroe, located about 40 miles north of downtown Houston.

Cresset Real Estate Partners, in partnership with Lovett Industrial of Houston, developed the project on a speculative basis.

Northport Logistics Center was represented in the lease transaction by Nathan Wynne, Jason Dillee and Ed Frantz of CBRE. BroadRange Logistics was represented by JR Wright and Russell Hofstetter of Atlanta-based Strategic Real Estate Partners, LLC.

The facility, which broke ground in September 2022, is located within the 1,655-acre Conroe Business Park.

Northport Logistics Center has 40-foot clear-height building with truck courts measuring 190 feet deep, 273 trailer parking stalls, 224 loading dock doors and 8-inch slab-on-grade foundation.

“We’re proud to be a part of the largest speculatively-built industrial lease ever signed in the Houston area, which has become a key target market for the Cresset Partners team and specifically our logistics fund,” said Dominic DeRose, Managing Director of Cresset Real Estate Partners.

Charlie Meyer is President and CEO of Lovett Industrial, which is affiliated with the Frank Liu organization of Houston.

Lovett Industrial, founded in 2020, is currently active in 15 markets across the United States. Lovett Industrial’s portfolio consists of approximately 19 million SF of completed, purchased, and under construction warehouses. Lovett has more than 10 million SF of warehouses planned for future development.