Lovett Industrial Breaks Ground on Orr Road Business Center in Charlotte
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 includes 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 last infill development opportunities in the Charlotte market. The property will consist of two multi-tenant rear-load buildings designed for tenants ranging from 30,000 to 156,000 square feet. With 32-foot clear heights, 180-foot truck courts, and modern amenities, it will be the highest quality industrial warehouse product in 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 exemplifies the qualities we look for in new development projects.” Chris Skibinski, Managing Director of Avison Young’s Charlotte office, added, “We are excited to bring this new development to a submarket in 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 civil engineer for the project.
Lovett Industrial, founded in 2020, focuses on developing and acquiring high-quality industrial real estate assets across the United States. With a portfolio of over 16 million square feet of completed and under-construction warehouses, the company aims to provide top-tier logistics real estate solutions.
For more information, visit Lovett Industrial’s website at https://lovettindustrial.com/.