Lovett Industrial announces the acquisition of 13 acres in the Inland Empire

HIGHLAND, California–(BUSINESS WIRE)–Lovett Industrialthe Houston-based real estate investment firm, announces the acquisition of 13 acres in the Highland submarket of the Inland Empire East. Lovett Industrial will develop a single Rear loading class of 285,000 square feet An industrial building, which will be Lovett Industrial’s first project in Southern California.

Ted Hart, Senior Managing Director of Lovett Industrial, said, “The Inland Empire is the nation’s most desirable and highest industrial market, and we are delighted to announce the first of our many projects here. Tenant demand shows no signs of letting up and we are actively targeting more opportunities in Southern California due to record vacancy rates and supply and demand dynamics which have led to the strongest growth in the country’s rents. We are grateful to our team of consultants as well as Austin Hill, Tyler Plata and Holden Edmondson of Lee & Associates for all of their support in executing this transaction.

Located in the town of Highland, the 13-acre site offers excellent access to the I-10, I-210 and I-215 freeways. The Inland Empire is one of the strongest industrial markets in the United States with a market vacancy rate of 0.20% in the second quarter of 2022 according to CBRE’s latest quarterly market report.

Project enablement efforts are underway with construction expected to begin in Q4 2023. Once complete, the project will feature key construction specifications designed to appeal to a wide range of users. The approximately 285,000 square foot rear-loading development will feature 36-foot clear heights, a build depth of 310 feet, 47 trailer bays and 193 car parking bays.

Marketing and leasing efforts for the project will be managed by Austin Hill, Tyler Plata and Holden Edmondson of Lee & Associates Ontario. HPA will be the lead architect and Thienes Engineering will be the civil engineer for the project.

About Lovett Industrial:
Founded in 2020 and headquartered in Houston, Texas, Lovett Industrial is a private, vertically integrated logistics real estate investment platform that seeks to develop and acquire industrial real estate assets that are differentiated by quality, location and functionality. Currently active in 7 markets across the United States, Lovett Industrial’s portfolio consists of approximately 7 million square feet of warehouses under construction and over 10 million square feet of warehouses planned for future development. The founders of Lovett Industrial have combined over 60 years of experience in the commercial and industrial real estate sectors. For more information, please visit our website at www.lovetindustrial.com.

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