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Logistics Firm Locks in 1.2M-SF Lease at Conroe Industrial Park
Cresset Real Estate Partners, in partnership with Lovett Industrial, agreed to a lease with BroadRange Logistics on a 1,224,498-square-foot facility within Northport Logistics Center in Conroe, Texas. About 40 miles north of Houston, Cresset claims the lease marks the largest speculatively built warehouse ever leased within the Houston area.
The facility, which broke ground in September 2022, is located within the larger Conroe Business Park, a 1,655-acre location. More than 30 companies and over 3,000 employees already populate the park.
The lease marks the latest milestone within Cresset Real Estate Partners’ Logistics Fund I (“Fund I”). To date, the firm’s Logistics Funds have raised more than $380 million, and resulting projects from these investments have covered more than 10 million square feet across the country.
Northport Logistics Center was represented by Nathan Wynne, Jason Dillee, and Ed Frantz of CBRE in its leasing efforts, while BroadRange Logistics was represented by JR Wright and Russell Hofstetter of Strategic Real Estate Partners, LLC.
