Urban Logistics Breaks Ground on 1 MSF Dallas Project
- Jan 15, 2020
Urban Logistics Realty has broken ground on Urban District 30, a 980,000-square-foot industrial complex in Mesquite, Texas. The project is slated for completion by this year’s third quarter. Construction and design are managed by MYCON General Contractors and GSR Andrade Architects. JLL arranged a construction loan from Comerica Bank.
The Class A, five-building development is situated at the intersection of interstates 30 and 635, in the Northeast Dallas area. Urban Logistics is developing the industrial park in a joint venture with a private real estate equity fund advised by Crow Holdings. Stream Realty Partners, which recently appointed its first president, will handle leasing and management.
According to Urban Logistics, the area has proven to have strong tenant demand and ample labor supply for both distribution and manufacturing companies. This is underscored by the Metroplex’s overall strong fundamentals: With the whole of North Texas adding jobs at a very rapid pace, the industrial sector continues to thrive. According to Yardi Matrix data, nearly 17.5 million square feet of industrial space came online across Dallas-Fort Worth in 2019, with an additional 20 million square feet across more than 50 projects underway as of mid-January.