Lovett Industrial breaks ground on a 21-acre, 282,000 Square Foot Industrial Business Park in Charlotte, North Carolina
2024年5月21日 - 3:00AM
ビジネスワイヤ(英語)
Lovett Industrial, the Houston-based real estate investment
firm, recently broke ground on Orr Road Business Center, an urban
infill 21.7-acre development consisting of 282,000 square feet
spread across two Class A industrial buildings in the North Graham
submarket of Charlotte, NC.
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Orr Road Business Center Site Plan
(Photo: Business Wire)
Located on Orr Rd, just northeast of Downtown Charlotte, and
within 1.5 miles of the Old Concord Road light rail station, the
Orr Road Business Center represents one of the last remaining true
infill development opportunities within the Charlotte market. The
property will feature two (2) Class A multi-tenant rear-load
buildings designed to cater to tenants ranging from 30,000 square
feet to 156,000 square feet. It will be the highest quality, most
functional industrial warehouse product within the submarket. The
total square footage will be 156,000 and 126,000 square feet,
respectively, with 32-foot clear heights, 6-inch reinforced
concrete slabs, 180-foot truck courts, 60 loading doors in total
(30 at each building), two drive-in doors each, and office finishes
to suit.
“The Charlotte MSA continues to perform well as a top-tier
industrial market, and Orr Road Business Center is a great
representation of the qualities we focus on when considering new
development projects,” said Madison Jones, Director with Lovett
Industrial. “At a national level, Lovett is extremely focused on
identifying infill sites where we can deliver high-quality
buildings within the high barrier-to-entry submarkets. This project
is unique within the North Graham sub-market, being new vintage,
modern clear height, Class A construction while offering small to
medium size suites to users focused on serving the local
consumer.”
“We are thrilled to bring this exciting new development project
to a submarket in dire need of small bay, Class A industrial space.
Lovett brings a top-flight product to a much-needed sector in our
market," said Chris Skibinski, Managing Director of Avison Young’s
Charlotte office.
Marketing and leasing efforts for Orr Road Business Center will
be exclusively handled by Henry Lobb and Abby Rights of Avison
Young, along with Chris Skibinski providing capital markets
strategic advisory services. Construction financing is being
provided by Wintrust. Edifice is the General Contractor, Merriman
Schmitt Architects is the lead architect, and Oak Engineering is
serving as the project’s civil engineer.
About Lovett Industrial:
Founded in 2020 and based in Houston, Texas, Lovett Industrial
is a privately held vertically integrated logistics real estate
investment platform that seeks to develop and acquire industrial
real estate assets that are differentiated by their quality,
location, and functionality. Currently active in over 15 markets
across the United States, Lovett Industrial’s portfolio comprises
approximately 16 million square feet of completed, acquired, and
under-construction warehouses and over 10 million square feet of
warehouses planned for future development. Lovett Industrial’s
founders have combined over 60+ years of experience in the
commercial and industrial real estate sectors. For more
information, please see our website at
https://lovettindustrial.com/.
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version on businesswire.com: https://www.businesswire.com/news/home/20240520879325/en/
Lily Aguilar Liliana.aguilar@lovettindustrial.com