Sale of newly built Dallas-Fort Worth industrial park closes
JLL Capital Markets completed the sale of the three-building Urban District 183 in Euless, Texas
DALLAS, September 1, 2022 – JLL Capital Markets announced today that it has closed the sale of Urban District 183, a three-building, 366,771-square-foot, Class AA industrial park in Euless, Texas.
JLL marketed the property on behalf of Urban Logistics Realty (“ULR”).
“We could not be more excited about the successful completion and sale of Urban District 183,” said Drew Feagin, Director at ULR. “A huge team effort from a lot of folks that we are very grateful for. This project was 100% preleased at the time of delivery, which is a testament to the infill and irreplaceable location that we repeatedly aim to invest in.”
Urban District 183 is located near DFW Airport and one of the last remaining sites in the GSW/DFW Airport submarket. ULR worked closely with the city of Euless to rezone the former Coopers Golf Park. This new facility was built on a speculative basis and now stands as Omni’s new global headquarters for executive offices, warehousing and ecommerce fulfillment.
The property is situated off SH-183 and Industrial Boulevard at 1010 and 1000 S. Industrial Blvd. on 22.02 acres. The industrial park is centrally located between Dallas and Fort Worth and is an eight-minute drive to Dallas-Fort Worth International Airport. Located in the GSW / DFW Airport submarket, the property benefits from the area’s strong demographics with a population of 1.2 million people within a 20-minute drive, up 40% since 2000, and $20 billion of consumer spending power within the same radius. In addition, Urban District 183 benefits from the strong labor pool with 245,000 daytime workers within a five-mile radius.
The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Senior Managing Directors Dustin Volz and Stephen Bailey, Director Dom Espinosa, Associates Wells Waller and Robby Westerfield, and Analyst Megan Babovec.
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 and sales 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.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of June 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Urban Logistics Realty
Urban Logistics Realty is a Dallas-based investment firm that creates unexpected, impactful and vital urban properties that define the evolution of industrial development. Urban Logistics Realty has developed or under construction on over 6.8 million square feet of industrial investments with a total of 53 buildings over the course of their 50+ years in shared experience. A values driven firm with people first mentality, Urban Logistics Realty has completed or is underway on over three million square feet of projects at an estimated value of over $400 million.