Houston-Based Lovett Industrial Making Big Move Into Austin
Houston’s Lovett Industrial is partnering with Clarion Partners on a 1.5M SF industrial development near a Tesla Inc. factory in Austin.
The project, called Fusion 130, will have nine buildings ranging from less than 100K SF to 500K SF, according to Lovett’s website. Currently in the design phase, the development's groundbreaking is slated for the third quarter, the Austin American-Statesman reported.
Fusion 130 will be on 180 acres at State Highway 130 and FM 969 in East Austin, which is “strategically located” 2 miles north of the 10M SF Tesla factory that opened in 2022, according to the outlet.
Lovett Industrial’s joint venture partner for the project is New York-based investment firm Clarion Partners.
Lovett is also planning a $30M project to build a 608K SF logistics center on 43 acres in Schertz, a city northeast of San Antonio, according to filings with the Texas Department of Licensing and Regulation. That project is also slated for groundbreaking later this year, the Statesman reported.
The Austin and Schertz projects are the first Central Texas developments for Lovett Industrial, which was founded in February 2020. The company primarily builds in the Houston and Dallas-Fort Worth areas, where it has 13M SF completed, under construction or acquired, according to the Statesman.
Lovett Industrial has regional offices in Washington, D.C., Atlanta and Newport Beach, California. The company also announced its first development in the Nashville area earlier this year.
Lovett was founded in 2020 by Charlie Meyer, previously of Hines and NewQuest Properties, and Frank Liu, a longtime Houston developer who also founded Lovett Commercial in 1995.
Lovett Commercial is behind major developments such as POST Houston and was recently selected to develop Lake Pointe Green, a 53-acre reimagining of the former Fluor Corp. campus in Sugar Land.
