{"id":1004694587,"date":"2023-12-20T04:56:27","date_gmt":"2023-12-20T12:56:27","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004694587"},"modified":"2023-12-20T06:09:49","modified_gmt":"2023-12-20T14:09:49","slug":"lovett-rosewood-to-develop-dfw-industrial-complex","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/lovett-rosewood-to-develop-dfw-industrial-complex\/","title":{"rendered":"Lovett, Rosewood to Develop DFW Industrial Complex"},"content":{"rendered":"
\"Addison<\/a>

Addison Innovation Center is Lovett Industrial\u2019s sixth development in the Metroplex. Image courtesy of Lovett Industrial and Rosewood Property Co.<\/em><\/p><\/div>\n

Lovett Industrial<\/strong> and Rosewood Property Co.<\/strong> intend to develop Addison Innovation Center, a two-building, 242,062-square-foot industrial complex in Addison, Texas, a Dallas suburb. The partners have recently acquired the project’s 12.2-acre site.<\/p>\n

Partners on the development include LGE Design Group<\/strong> as lead architect and Winkelmann & Associates <\/strong>as civil engineer. Colliers International<\/strong>\u2019s Vice President Ben Wallace is handling marketing and leasing efforts, while JLL<\/strong>\u2019s Director Jarrod McCabe is arranging the financing.<\/p>\n

The project involves the conversion of a 1996-completed flex office building, that features 31-foot clear heights, into a 140,698-square-foot, Class A office\/warehouse property with 10 drive-in doors and dock-high loading capabilities. The campus will also include a to-be-constructed, 101,364-square-foot warehouse, expected to comprise 13 drive-in doors and feature 32-foot clear heights.\u00a0The property will also feature a 190-foot shared truck court, amenity areas and ample parking.<\/p>\n

The industrial park will rise at 16675 Addison Road, close to Addison Airport and interstates 635 and 35. Dallas\/Fort Worth International Airport will be 20 miles away, while downtown Dallas will be within 17 miles.<\/p>\n

Lovett Industrial\u2019s recent projects in the Metroplex<\/h2>\n

Addison Innovation Center marks Lovett’s sixth industrial development in Dallas-Fort Worth. The developer’s Metroplex footprint currently comprises more than 5 million square feet in completed and underway projects.<\/p>\n

In May, the firm broke ground on the second phase<\/a> of a 140-acre campus in Dallas expected to measure up to 1.9 million square feet. Work had started on Phase One<\/a> at the end of 2021.<\/p>\n

Another project debuted last November, when Lovett started construction on a 1.1 million-square-foot industrial complex<\/a> in Forney, Texas. Originally slated for completion in September 2023, the development is yet to be delivered.<\/p>\n

The Metroplex shows strong fundamentals<\/h2>\n

In terms of industrial development, the Metroplex led the South as of October, with a pipeline of more than 42.4 million square feet\u2014the second-largest market nationally, according to a CommercialEdge industrial report<\/a>. Meanwhile, the vacancy rate clocked in at 4.1 percent, 50 basis points lower than the national average.<\/p>\n

Year-to-date sales through the first 10 months of the year amounted to $2.4 billion, the same research reveals. The Metroplex ranked third in the U.S, after the Inland Empire and Los Angeles, which had $3.7 billion and $3.6 billion in transactions, respectively.<\/p>\n","protected":false},"excerpt":{"rendered":"

This project involves the conversion of a vintage flex office building.<\/p>\n","protected":false},"author":3355,"featured_media":1004694588,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21782,21748,21742,51973],"tags":[35498,32796,51892,51738,52197],"class_list":["post-1004694587","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dallas","category-development","category-industrial","category-latest","category-southwest","tag-colliers","tag-jll","tag-lge-design-group","tag-lovett-industrial","tag-rosewood-property-co"],"acf":[],"yoast_head":"\nLovett, Rosewood to Develop DFW Industrial Complex - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Lovett Industrial and Rosewood Property Co. plan to develop Addison Innovation Center, an industrial complex in Addison, Texas, near Dallas.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/lovett-rosewood-to-develop-dfw-industrial-complex\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lovett, Rosewood to Develop DFW Industrial Complex\" \/>\n<meta property=\"og:description\" content=\"Lovett Industrial and Rosewood Property Co. plan to develop Addison Innovation Center, an industrial complex in Addison, Texas, near Dallas.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/lovett-rosewood-to-develop-dfw-industrial-complex\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-20T12:56:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-20T14:09:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/Addison-Innovation-Center-e1702976839806.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"855\" \/>\n\t<meta property=\"og:image:height\" content=\"642\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Vicentiu Fusea\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lovett-rosewood-to-develop-dfw-industrial-complex\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/lovett-rosewood-to-develop-dfw-industrial-complex\/\",\"name\":\"Lovett, Rosewood to Develop DFW Industrial Complex - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lovett-rosewood-to-develop-dfw-industrial-complex\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lovett-rosewood-to-develop-dfw-industrial-complex\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/Addison-Innovation-Center-e1702976839806.jpg\",\"datePublished\":\"2023-12-20T12:56:27+00:00\",\"dateModified\":\"2023-12-20T14:09:49+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6f90c90d1e85956f06679ddabc844412\"},\"description\":\"Lovett Industrial and Rosewood Property Co. plan to develop Addison Innovation Center, an industrial complex in Addison, Texas, near Dallas.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lovett-rosewood-to-develop-dfw-industrial-complex\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/lovett-rosewood-to-develop-dfw-industrial-complex\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lovett-rosewood-to-develop-dfw-industrial-complex\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/Addison-Innovation-Center-e1702976839806.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/Addison-Innovation-Center-e1702976839806.jpg\",\"width\":855,\"height\":642,\"caption\":\"Addison Innovation Center is Lovett Industrial\u2019s sixth development in the Metroplex. 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