Lovett Industrial Enters Nashville Market
The company will develop a logistics center at the Hendersonville site.
Lovett Industrial has entered the Nashville market with the purchase of 10.4 acres in Hendersonville, Tenn. This swath of land will be the development site of Innovation Way Logistics Center, a 107,500-square-foot industrial property.
Powers Brown Architecture is the lead architect, while Kimley-Horn serves as the project’s civil engineer. Groundbreaking is scheduled for July 2025 and delivery is expected in June 2026.
Carrying the address 230 Innovation Way, the site is along New Shackle Island Road, offering direct access to Interstate 65 and U.S. Route 31E. Nashville International Airport is some 21 miles south.
Upon delivery, Innovation Way Logistics Center will be a rear-load building with a clear height of 32 feet and 215 feet in depth, having 29 dock-high doors and two drive-in doors. The property will also feature a 130-foot truck court and 120 parking spaces. Stream Realty Partners’ Griffin Farriss, Bradley Worthington and Andrew Fletcher will handle marketing and leasing.
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The Nashville industrial real estate market had a decent 2024, according to fourth-quarter report from Colliers. The sales volume exceeded $1.4 billion, marking a 37 percent year-over-year increase.
Meanwhile, industrial space absorption totaled nearly 4.3 million square feet, and 4.0 million square feet were delivered, though that caused a slight bump in overall vacancy, to 4.1 percent. Almost 4 million square feet of industrial space were under construction as of the end of December, according to Colliers.
Lovett’s recent activity across the U.S.
Lovett has been active across a wide swath of the country in recent months:
• In July, the company obtained entitlements for the development of a 298,000-square-foot facility in Chino, Calif., in the Inland Empire West submarket. Construction was scheduled to start in the fourth quarter of 2024.
• The following month, Lovett delivered Broadway Logistics Center, a 201,329-square-foot Class A industrial building in Denver. Cushman & Wakefield was assigned to lease the spec project.
• In October, Lovett broke ground on Highway 1 Commerce Center, a Class A spec last-mile logistics project in Philadelphia. The warehouse is slated for delivery by the third quarter of this year.
• And in December, the developer broke ground on a 339,280-square-foot Class A logistics park in the Dallas-Fort Worth area. This project’s completion is also expected in the third quarter.
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