31-acre Denton business park changes hands from Dallas developer to out-of-state property management | Texas

A 31-acre business park in Denton, appraised at more than $60 million, was recently sold to High Street Logistics Properties. dallas-based Urban Logistics Realty announced a final sale of the master-planned Urban District 35 project, comprising four buildings that span more than 440,000 square feet, Monday.

The four-building property is on the southeast corner of Interstate 35E and U.S. Route 377 (Fort Worth Drive) in Denton, which is next to Denton's historic Acme Brick Co. plant.

Construction began in January 2022 and was completed in June 2023. To date, Urban District 35 is 67% leased and has attracted a "diverse range of tenants, from local manufacturing to national distributors," according to the release.

Urban Logistics Realty and High Street Logistics did not disclose financial details of the sale, but the property was appraised at more than $60 million.

High Street Logistics Properties is based in Massachusetts and has additional offices in Dallas, Atlanta, Chicago and Philadelphia. The firm acquired and developed more than $5.1 billion of industrial and logistics properties since it was founded in 2002.

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