Urban Logistics Realty has completed the sale of Urban District 183, a Class AA industrial park in Euless, Texas.
Designed to accommodate warehouse and distribution tenants, the property comprises three buildings totaling 366,771 square feet. According to The Dallas Morning News, a unit of Morgan Stanley Real Estate Advisors acquired the park.
The lot size is 3.4 acres for building C, 12.9 acres for building B and 4.7 acres for building A, CommercialEdge data indicates. The project was fully preleased at the time of delivery.
Urban Logistics worked with the city of Euless to rezone the former Coopers Golf Park. The new building now holds Omni Logistic’s global headquarters for executive offices, e-commerce fulfillment and warehousing needs.
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Urban District 183 is one of the few remaining sites in the Dallas-Fort Worth Airport submarket. The property is an eight-minute drive to the DFW Airport and positioned off SH-183. The area has $20 billion worth of consumer spending and a population of 1.2 million people within a 20-minute driving distance, representing a 40 percent increase since 2000. Some 245,000 people work within 5 miles of the asset.
The park is Urban Logistics’ second industrial development in the metro following District 30, which was completed in 2021.
Senior Managing Directors Dustin Volz and Stephen Bailey along with Director Dom Espinosa, Associates Wells Waller and Robby Westerfield and Analyst Megan Babovec with the JLL Capital Markets Investment Sales and Advisory team represented the seller.
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