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Sugar Land, TX- A new industrial development totaling more than 320,000 square feet will be built in the Sugar Land Business Park.
The development is the result of an agreement approved by the Sugar Land Development Corporation (SLDC) with Sage Dulles, Ltd., an affiliate of Lovett Industrial LLC, and Boise Cascade Building Materials Distribution, L.L.C.
Once completed, the project will result in the redevelopment of the former National Oilwell Varco site, 500 Industrial Boulevard, one of the largest parcels in the business park. The site, purchased by Lovett Industrial in 2019, has been targeted for redevelopment into a Class A industrial project by the company. Lovett Industrial is a newly formed development company led by Frank Liu and Charlie Meyer and comprised of a management team with significant experience in the commercial and residential development industry. “We are thrilled that the city of Sugar Land’s industrial sector continues to expand with the creation of new industrial space in the business park,” said Director of Economic Development Elizabeth Huff. “Newly developed industrial spaces create opportunities for existing businesses to expand and attract new businesses to our city. Sugar Land’s industrial vacancy rate continues to remain low, which shows a continued demand for new industrial spaces within the city. The Office of Economic Development continues to support development of these new spaces.”
Boise Cascade, an existing Sugar Land business, will be the first tenant in the new development. The company will lease approximately 163,320 square feet of space located in the southern portion of the building. With this expansion, they will contribute $4 million in personal property, $4 million in inventory annually and create more than 60 jobs. Boise Cascade is a North American manufacturer of wood products and a wholesale distributor of building materials. The company’s regional operations have been in Sugar Land since 2002, and this new development will allow the company to further expand business operations.
“We are excited to partner with the city of Sugar Land and Fort Bend County to redevelop an outstanding location in the Sugar Land Business Park; and pleased that this redevelopment has resulted in an expansion opportunity for our first tenant, Boise Cascade,” said Lovett Industrial President Charlie Meyer. The Office of Economic Development is proactive in capitalizing on opportunities to expand, construct or relocate businesses to the city to ensure Sugar Land remains an economic powerhouse within the Houston region. These proactive efforts ensure a strong economy, support quality services for Sugar Land residents and allow the city to maintain the second lowest tax rate in the state among cities of similar size. In addition to SLDC’s agreement, Fort Bend County also incentivized the project to support continued industrial development in the city. “This new development further solidifies our position as a financial leader and economic powerhouse,” said Huff. “We look forward to continuing to support Boise Cascade’s growth in Sugar Land and are excited for new opportunities that this development will bring.”
(Rendering courtesy of Lovett Industrial)