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 ULR Director Drew Feagin. “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.
