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Lovett, PCCP Combine on Houston Industrial Project
Lovett Industrial has broken ground on a two-building industrial park totaling 785,000 square feet in Stafford. Lovett partnered with PCCP for financing of the project. Simmons Bank arranged the construction financing.
Stafford Logistics Park, at 13650 Pike Road, consists of a 520,000-square-foot cross-dock and a 265,000-square-foot front-load warehouse with 36- and 32-foot clear heights, respectively. There will be 190 trailer and 380 car parking spaces on the 40-acre site.
The site is one of the last remaining land assemblages of its size within the City of Stafford. Tenants of the park stand to benefit from triple freeport tax exemptions and no property taxes under the City of Stafford.
The general contractor, Houston-based Burton Construction, broke ground in mid-January and expects to complete the industrial park in November. The project was designed by More Architecture.
Both warehouses are speculative and actively fielding requirements for tenancy. JLL’s Jarret Venghaus and Jordan Raney are in charge of marketing and leasing the property.
Hear from experts at the Connect Industrial Midwest 2024 event on March 5 at Joe’s Live in Rosemont, Illinois. Click here for more information and to register.
- ◦Development
