C
resset Real Estate Partners, in partnership with Lovett Industrial, has leased a 1.2 million-square-foot facility to BroadRange Logistics within the Northport Logistics Center in Conroe, Texas. This lease marks the largest speculatively-built warehouse ever leased in the Houston area.

    The state-of-the-art Northport Logistics Center was designed with high specifications, including a 40-foot clear-height building and advanced features such as truck courts measuring 190 feet deep, 273 trailer parking stalls, 224 loading dock doors, and an 8-inch slab-on-grade foundation. The facility is strategically located within the Conroe Business Park, which offers convenient access to major cities like Houston, Dallas, Austin, and San Antonio.

    "We're proud to be a part of the largest speculatively-built industrial lease ever signed in the Houston area," said Dominic DeRose, Managing Director of Cresset Real Estate Partners. "We believe this facility will serve as a key hub for BroadRange Logistics' growth and expansion in the region."

    The lease is a significant milestone for Cresset Real Estate Partners' Logistics Fund I, which has raised over $380 million to date and has resulted in projects covering more than 10 million square feet across the country. The fund seeks to capitalize on unique investment opportunities in an evolving domestic supply chain.

    BroadRange Logistics will occupy the facility, which is twice the size of their previous Houston location. "We're thrilled about our expansion in Texas with this state-of-the-art facility," said Ari Milstein, CEO of BroadRange Logistics. "This addition allows us to capitalize on growing demand for flexible warehousing and distribution while meeting the evolving needs of our clients."

    The Northport Logistics Center was represented by CBRE, while BroadRange Logistics was represented by Strategic Real Estate Partners, LLC.

    Cresset Partners is a private investment firm focused on providing direct access to opportunities in real estate, private credit, private equity, and venture capital. Lovett Industrial is a vertically integrated logistics real estate investment platform that seeks to develop and acquire industrial real estate assets. BroadRange Logistics is a transformative force in warehousing and logistics solutions, offering flexible and adaptable space licensing agreements, advanced inventory management, and cash flow solutions.