Dallas-based Urban Logistics Realty (ULR) has sold its Urban District 35 industrial park to High Street Logistics Properties. The 31-acre development, which features four buildings totaling 440,663 square feet, was completed about a year ago on the historic Acme Brick site in Denton.
The Denton Acme Brick plant has been operating in the community since the early 20th century. ULR’s project was designed to repurpose part of the historic plant site into modern Class A industrial space while maintaining the property’s industrial legacy.
“We’re grateful for the collective efforts that have contributed to the realization of Urban District 35,” ULR Director Drew Feagin said in a statement. “From the city of Denton’s support to the site’s Acme Brick history, the dedication of the design, engineering, leasing, and construction teams all contributed to the commitment of the tenants who now call Urban District 35 home.”
The master-planned project was announced in 2022. “We feel very fortunate to have the opportunity to play a small role in the evolution of this historical piece of industrial land,” ULR Founder Jason Nunley said at the time.
Last year, ULR Director Drew Feagin called the development a “truly unique project” that attracted significant interest. To date, the industrial park, which fronts Interstate 35E, is 67% leased to a mix of local manufacturers and national distributors, according to ULR.
Several key players were involved in bringing Urban District 35 to fruition. GSR Andrade Architects designed the buildings, Kimley Horn handled the engineering, and Ridgemont Construction oversaw the general contracting. The leasing efforts were led by Holt Lunsford’s team of Keaton Brice, Andrew Gilbert, and George Jennings.
Financial details of the sale to High Street Logistics Properties were not disclosed. The private equity real estate investment management company acquires and develops industrial and logistics properties across major markets in the United States.
Pennybacker Capital served as the equity partner, while First United Bank provided financing for the project.
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