Former Addison call center office to become business park

Former Addison call center office to become business park

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A Houston developer has teamed up with a Dallas commercial property firm to build a new business park in Addison.

The project will include the conversion of a former call center office into a warehouse and the construction of a new building.

Lovett Industrial, which has a track record of several industrial projects in North Texas, is building the Addison Innovation Center in partnership with Rosewood Property Co., a longtime Dallas commercial property firm.

The former call center office at 16675 Addison Road was built in 1996 and was formerly used by a loan servicing firm. The almost 140,000-square-foot building at Addison Road and Excel Parkway will be converted into a multitenant warehouse property.

The developers will also add a new 101,000-square-foot building to the more than 12-acre site.

“This represents a rare opportunity to deliver top-tier logistics product to a supply-constrained area facing a shortage of comparable inventory,” Colby Everett, director with Lovett Industrial, said in a statement. “We look forward to partnering with the City of Addison to retain and attract great companies.

“We are grateful to have a team that can execute on a project like this one that requires vision, creativity, and efficiency.”

Colliers International is marketing the new business park,and financing for the project was arranged by Jones Lang LaSalle. LGE Design Group is the development architect.

“We’re always searching for quality industrial opportunities and were attracted to Addison Innovation Center due to its infill location and the lack of available Class A inventory,” Brandon Cooke, Vice President for Rosewood Property, said in a statement. “Lovett Industrial has a great track record, and we are thrilled to partner with them on this exciting project.”

Founded in 2020, Lovett Industrial has built warehouses and distribution centers in almost a dozen U.S. markets.

Earlier this year, the developer began work on two industrial buildings with almost 1 million square feet near Interstate 30 west of downtown Dallas.

And last year Lovett Industrial started a three-building business park in Forney.

Rosewood Property is the real estate arm of Dallas’ Rosewood Corp and invests in land, office, industrial, self-storage and multifamily properties. Rosewood Property previously teamed up with Dallas developer Champion Partners to build a business park in Wilmer south of Dallas.

About 49 million square feet of warehouse and distribution space is under construction in the Dallas-Fort Worth area.

With an oversupply of older office space in some areas of North Texas, developers are increasingly looking at vacant office space like the Addison call center for industrial buildings.

Developer Foundry Commercial just purchased a Las Colinas office campus with plans to tear the building down for a new warehouse park.

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