DALLAS – (Realty News Report) – An e-commerce retailer, 1000Bulbs.com, has signed a lease for warehouse space in Urban District 30, a newly developed business park designed for urban infill logistics and last-mile distribution.
The rapid expansion of online shopping—accelerated by the coronavirus pandemic—has driven a nationwide surge in warehouse construction. Major e-commerce operators are adding distribution and fulfillment centers in locations that put inventory closer to consumers, reducing delivery times and improving supply chain efficiency.
1000Bulbs.com has committed to leasing 203,040 square feet within Urban District 30, a multi-building campus developed by Urban Logistics Realty. Based in Dallas, Urban Logistics Realty focuses on acquiring, developing, and investing in urban infill properties that respond to changing logistics needs and the industry’s shift toward facilities near dense population centers.
Delivery of One Million Square Feet
Urban District 30 will encompass five buildings totaling approximately 977,000 square feet, all scheduled for delivery in the fourth quarter of 2020. The project’s size and configuration are intended to support a range of distribution, fulfillment, and light industrial users seeking proximity to major transportation routes and urban labor pools.
Stream Realty Partners, a national commercial real estate firm, handled the transaction. Stream’s Blake Kendrick and Seth Koschak represented the tenant, 1000Bulbs.com, while Stream’s Matt Dornak and Drew Feagin represented Urban Logistics Realty in the lease negotiation.
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 positioned in the Northeast Dallas submarket with frontage along Interstate 30 and convenient access to the Interstate 635 interchange. Northeast Dallas is one of the region’s most desirable submarkets due to its labor availability, robust highway infrastructure, and proximity to consumer demand. Stream Realty notes that the area’s dense population and strong tenant demand make it attractive to distribution and manufacturing users, supporting the substantial investment made by Urban Logistics Realty. The project is being developed in a joint venture with a private real estate equity fund advised by Crow Holdings Capital.
This new facility will increase 1000Bulbs.com’s warehouse capacity by roughly 60 percent, enabling the company to expand inventory, improve fulfillment speed, and better serve its growing customer base.
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