JLL Capital Markets led the financing for the development of Durham Logistics Center, a 351,000 SF industrial property in Durham, NC

Durham Logistics Center, a 351,030-square-foot
 Class A industrial property in Durham, NC

 

CHARLOTTE, NC, Sept. 23, 2024 –  JLL Capital Markets has arranged the construction financing for Durham Logistics Center, a 351,030-square-foot Class A industrial property in Durham, North Carolina. 

Financial details were not disclosed. JLL worked on behalf of Lovett Industrial to arrange the loan through Comerica Inc.

Taylor Allison

The rare infill 27.8-acre logistics and distribution development site will feature 36-foot clear heights, 84 dock-high doors, 185-foot truck court and 86 trailer parking spaces. Construction kicked off in August 2024, with delivery planned for early Q4 2025.

Located at 1716 Camden Ave., the property is positioned at an irreplaceable location, fronting I-85 and I-885 intersection with immediate access to the vital transportation and logistics corridor that has fueled the rise of the Sun Belt.

Moreover, the project boasts unparalleled access to the entirety of the booming Raleigh-Durham MSA and its core demand drivers – including the world-renowned Research Triangle Park (RTP), situated just ten miles away.

Bobby Norwood 

The JLL Debt Advisory team was led by Bobby Norwood and Taylor Allison along with Hamp Gibbs and Nick Thornton.

“Durham Logistics Center is a testament to the Raleigh-Durham market's strong fundamentals,” said Norwood. “We are seeing continued investor and lender interest in markets with diverse economic drivers, skilled labor pools and robust population growth – all hallmarks of the Triangle area."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization.

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

Hamp Gibbs

For more news, videos and research resources, please visit JLL’s newsroom. 

 

About Lovett Industrial

 

Founded in 2020 and based in Houston, Texas, Lovett Industrial is a privately held vertically integrated logistics real estate investment platform that seeks to develop and acquire industrial real estate assets that are differentiated by their quality, location, and functionality. 

Currently active in over 15 markets across the United States, Lovett Industrial’s portfolio comprises approximately 16 million square feet of completed, acquired, and under-construction warehouses and over 10 million square feet of warehouses planned for future development.

 Lovett Industrial’s founders have combined over 60+ years of experience in the commercial and industrial real estate sectors. For more information, please see our website at 

 

 

 

 

CONTACT:

 

 Grace Lewis, JLL PR

Phone: +1 903 520 3478  

Email: grace.lewis@jll.com

 

jll.com.

www.comerica.com,

https://lovettindustrial.com/.