Houston-based investment firms Lovett Industrial and Rosewood Property Co. have teamed up to develop the Addison Innovation Center — a Class A industrial complex located on a 12.2-acre site in Addison, Texas. The project will consist of two buildings totaling 242,062 square feet.
Building 1 will be an existing, 140,698-square-foot flex office building with a soaring, 31-foot ceiling height that will be transformed into a Class A office/warehouse facility with convenient dock-high loading capabilities. This building will also offer seamless integration of office and industrial spaces to cater to the growing demand for multifunctional workspaces.
Building 2 will be a newly constructed, 101,364-square-foot warehouse that boasts Class A specifications and dock-high loading capabilities.
The development will also feature an expansive truck-loading area spanning 190 feet.
Located in North Dallas, the Addison Innovation Center is strategically situated near major highways and transportation hubs, including the Addison Airport and interstates 635 and 35. Additionally, the Dallas/Fort Worth International Airport is just 20 miles away, while downtown Dallas is within 17 miles.
Leading architects LGE Design Group and civil engineers Winkelmann & Associates are collaborating on the project, while financing will be handled by JLL’s Jarrod McCabe. Colliers International Vice President, Ben Wallace, will oversee marketing and leasing efforts.
“There is pent-up tenant demand for functional industrial space in infill Dallas,” said Colby Everett, director with Lovett Industrial. “This represents a rare opportunity to deliver top-tier logistics product to a supply-constrained area facing a shortage of comparable inventory. We look forward to partnering with the city of Addison to retain and attract great companies. We are grateful to have a team that can execute on a project like this one that requires vision, creativity, and efficiency.”
This latest development marks Lovett Industrial’s sixth industrial project in the Dallas-Fort Worth region, including Texport Logistics Center, Lovett 35 Logistics Park, Trinity West Business Park, Innovation Ridge Logistics Park and Wylie Business Center.
Beyond its presence in the Dallas-Fort Worth area, Lovett Industrial has also established a strong foothold in seven additional U.S. markets. It currently maintains a development pipeline of approximately 5 million square feet.
For more industrial listings across major U.S. markets, visit CommercialCafe.com:
