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.

Located one block from the Dallas Museum of Art, Nasher Sculpture Center and Crow Museum of Asian Arts, 800 North Harwood Street in downtown Dallas is at the epicenter of the city’s robust cultural arts scene, the Dallas Arts District. It also happens to be the site of Sam Moon Development Group’s latest hospitality investment – the first JW Marriott Hotel in Dallas.

JW Marriott is Marriott International’s upmarket brand designated as tribute to legendary founder J.W. Marriott, Sr. The JW Marriott Hotel flag flies atop only the most select and significant Marriott properties. Sam Moon Development Group’s vision for the JW Marriott Dallas Arts District was to honor Mr. Marriott’s prominent character traits of warmth, compassion and approachability via the design of the hotel.

Opening in Spring 2023, the 23-floor hotel will have an entry lobby at ground level, then express elevators will shuttle guests to the glamorous reception and Sky Lobby on the 11th floor. The chic hotel includes 267 rooms, three restaurants, a spacious lobby and cocktail lounge, meeting and conference areas, ballroom and a fitness center. The showstopper is a sensuous mid-air pool and deck with 40-foot ceilings, terrace bar, cabanas and outdoor event space offering prime views of the downtown area and beyond. The overall design of the property embraces the tenets of JW Marriott Hotel’s philosophy: Architectural, Serene, Nature, Warmth. The glass sheathed transitional modern style shines a spotlight on dramatic views of downtown Dallas. Marble floors, wood millwork, dramatic lighting and furnishings evocative of mid-century style imbue the space with a cultivated cosmopolitan vibe.

With HKS, Inc. as the project design architect, and Looney Associates in the interior design role – both firms headquartered in Dallas – the project boasts two talented, professional and collaborative studios crafting a sophisticated Arts District milieu. The two firms have enjoyed shared success on previous critically acclaimed Sam Moon Group developments. DPR Construction of Dallas is the general contractor for the project.

The prime location of the hotel will provide hotel guests and the wider community with accessibility to all the attractions within the Dallas cultural arts scene as well as restaurants and entertainment venues.

Owner and developer Sam Moon Group has significantly enhanced the North Texas hospitality market over the past decade. Sam Moon began as a family wholesale/retail business and has extended its reach to real estate with an impressive portfolio including Class=A shopping centers, hotels and conference centers, mixed use developments and a golf course.

US Committee for Refugees and Immigrants, Inc. leased 2538 square feet at 8111 LBJ Freeway in Dallas, Texas. Hisham Morgan with Competitive Edge Realty represented the tenant and Brent St. Amant, and Caleb Ninemire represented the landlord, Hartman Income REIT.