Lovett, PCCP Break Ground on Houston-Area Industrial Park
JLL will handle leasing efforts at the 785,000-square-foot property.
Lovett Industrial, in partnership with PCCP LLC, has broken ground on Stafford Logistics Park, a 785,000-square-foot industrial park in Stafford, Texas.
MORE Architecture serves as main architect for the project, while Burton Construction is the general contractor and ALJ Lindsay the civil engineer. The development cost of the two buildings is estimated at $30 million, as reported by The Real Deal. Simmons Bank provided construction financing.
JLL’s Executive Vice President Jarret Venghaus and Senior Vice President Jordan Raney will handle the marketing and leasing efforts for the speculative warehouses. The future tenants of Stafford Logistics Park will benefit from triple freeport tax exemptions and no property taxes under the City of Stafford, according to JLL.
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Stafford Logistics Park will comprise two Class A industrial buildings—a 520,000-square-foot cross-dock warehouse and a 265,000-square-foot front-load facility. The buildings are set to feature 36- and 32-foot clear heights, 90 trailer stalls, 190 trailer parking spaces and 380 auto parking spaces.
The property will take shape on some 38 acres in the Greater Southwest Houston submarket, at 13650 Pike Road. The development’s location near Route 90 and Interstate 69 provides easy access across the Houston metropolitan area.
Southwestern industrial markets take the lead
Stafford Logistics Park marks the company’s ninth industrial development in Greater Houston. Benefiting from its strategic Gulf Coast location, Houston ranked second for industrial deliveries in the first half of 2023, according to CommercialEdge research.
The metro added 11.3 million square feet of industrial space in the first six months of last year, which accounted for 4.3 percent of total stock. As of January this year, Houston had 9.5 million square feet underway, the same source shows.
Lovett developed the largest industrial property that came online in Greater Houston in 2023—a 908,853-square-foot asset within the Interchange 249 industrial park in Tomball, Texas.
Dallas-Fort Worth ranked first on the same list. The metro had 69 properties come online in 2023’s first half, adding 29.3 million square feet to its inventory. At the end of last year, Lovett and Rosewood Property Co. acquired a 12.2-acre site for the development of a two-building industrial facility in Addison, Texas, a Dallas suburb.
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