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, the lease marks the largest speculatively-built warehouse ever leased within the Houston area.
By signing the lease, BroadRange Logistics, a fast-growing third-party logistics firm, will occupy the state-of-the-art Northport Logistics Center, which was designed to the highest specifications. This includes the 40-foot clear-height building with truck courts measuring 190 feet deep, 273 trailer parking stalls, 224 loading dock doors and 8-inch slab-on-grade foundation.
The facility, which broke ground in September 2022, is located within the larger Conroe Business Park, a 1,655-acre location, allows convenient service to Houston, Dallas, Austin and San Antonio. More than 30 companies and over 3,000 employees already populate Conroe Business Park, which boasts four-lane roads, municipal utilities and quick access to I-45 through three convenient interchanges.
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.
