DALLAS – (Realty News Report) – An e-commerce retailer called 1000Bulbs.com has leased warehouse space in Urban District 30, a new business park suited for infill logistics.
The growth of e-commerce, accelerated by the coronavirus pandemic, has ignited a national boom in warehouse construction. Amazon, the e-commerce giant, is developing scores of new distribution and fulfillments centers around the country. Many of the new warehouses are rising in areas close to consumers.
The 1000Bulbs.com organization has leased 203,040 SF in Urban District 30, a business park being developed by Urban Logistics Realty. The Dallas-based Urban Logistics Realty develops, acquires and invests in urban infill properties that are on the forefront of where the industry is moving.
Delivery of One Million Square Feet
The Urban District 30 business park will consist of five buildings, totaling 977,000-SF all of which are expected to deliver in fourth quarter 2020.
The deal with the 1000Bulbs organization was arranged by Stream Realty Partners, a national commercial real estate firm.
Stream’s Blake Kendrick and Seth Koschak represented the tenant, 1000Bulbs.com, and Stream’s Matt Dornak and Drew Feagin represented Urban Logistics Realty.
Kendrick, Managing Partner in Dallas / Fort Worth, said, “When you have a long-term relationship with a client, like we’ve had with 1000Bulbs.com, you feel extremely proud when they show continued growth year-after-year. Our goal was to do everything we could to ensure our client was positioned in the best possible scenario for continued flexibility and growth, and Urban District 30 offered exactly that.”
Urban District 30 is located in the Northeast Dallas submarket with frontage along Interstate 30 near the Interstate 635 and 30 interchange. Northeast Dallas is one of the most sought-after submarkets in Dallas / Fort Worth with its ample labor supply and excellent highway infrastructure. Stream Realty said. The area has proven to have strong tenant demand and a dense population base that is attractive to both distribution and manufacturing tenants, which warranted such a significant investment for Urban Logistics Realty, which is developing the project in a joint venture with a private real estate equity fund advised by Crow Holdings Capital.
The new location allows 1000Bulbs.com to grow their warehouse capacity by 60 percent.
Sept. 17, 2020 Realty News Report Copyright 2020
File: E-commerce Retailer Leases Space
File: Stream Realty Partners. Mesquite. Urban District 30. Urban Logistics Realty. Jason Nunley. Blake Kendrick. E-commerce Retailer Leases Space. 9-17-20