Lovett Industrial Breaks Ground on Orr Road Business Center in Charlotte, NC
Lovett Industrial Breaks Ground on Orr Road Business Center in Charlotte, NC
CHARLOTTE, N.C., May 20, 2024– Lovett Industrial, a Houston-based real estate investment firm, has recently started construction on the Orr Road Business Center, a 21.7-acre development in the North Graham submarket of Charlotte, NC. The project consists of two Class A industrial buildings totaling 282,000 square feet.
Situated on Orr Rd, just northeast of Downtown Charlotte and close to the Old Concord Road light rail station, the Orr Road Business Center is one of the few remaining infill development opportunities in the Charlotte market. The development will feature two multi-tenant rear-load buildings designed for tenants ranging from 30,000 to 156,000 square feet. With 32-foot clear heights, 6-inch reinforced concrete slabs, 180-foot truck courts, and 60 loading doors (30 at each building), the property aims to provide high-quality industrial warehouse space within the submarket.
Madison Jones, Director at Lovett Industrial, stated, “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.” Chris Skibinski, Managing Director of Avison Young’s Charlotte office, added, “We are thrilled to bring this exciting new development project to a submarket in dire need of small bay, Class A industrial space.”
Marketing and leasing for the Orr Road Business Center will be handled by Avison Young, with construction financing provided by Wintrust. Edifice is the General Contractor, Merriman Schmitt Architects is the lead architect, and Oak Engineering is the project’s civil engineer.
Lovett Industrial, founded in 2020, is a vertically integrated logistics real estate investment platform with a portfolio of over 16 million square feet of completed, acquired, and under-construction warehouses across the United States.
For more information, visit Lovett Industrial’s website at https://lovettindustrial.com/.
Contact:
Lily Aguilar
[email protected]
Source: https://www.businesswire.com/news/home/20240520879325/en/
