The Lubbock Economic Development Alliance (LEDA) and Bandera Ventures announced the ground breaking of Lubbock Logistics Center, a hi-tech speculative distribution building with 161,555 square feet of space in the Lubbock Business Park at the corner of Lubbock Boulevard and Nutmeg Avenue during a ceremony Thursday morning.
Due to the low industrial real estate vacancy and Lubbock’s role as a regional hub, Bandera Ventures chose to build the facility in the “Hub City.” The facility is on schedule to be completed by early fall of 2019.
“My partners and I are thrilled to have the opportunity to work with LEDA on this exciting development project benefitting the citizens of Lubbock,” said Pryor Blackwell, partner at Bandera Ventures. “I fell in love with Lubbock 40 years ago as a freshman at Texas Tech, and I’ve loved the city, Texas Tech and the people of West Texas ever since.”
Lubbock Logistics Center will have a clear height of 32 feet, 56 trailer parking positions, and be cross-dock configured. To prepare for ease of access, North King Street will be extended to the south from Lubbock Boulevard. Bandera Ventures and LEDA will be marketing the space for tenancy.
“We are excited about this significant investment in the Lubbock Business Park,” said John Osborne, CEO of the Lubbock Economic Development Alliance. “This speculative building gives our city an immense advantage in helping businesses grow in Lubbock.”
(Press release from the Lubbock Economic Development Alliance)