The 31-acre Denton Business Park has changed hands.
Dallas-based developer Urban Logistics Realty has sold the master-planned Urban District 35 project, which will consist of four buildings totaling more than 440,000 square feet, to High Street Logistics Properties.
The 31-acre Urban District 35 is located at the southeast corner of Interstate 35E and U.S. Route 377.
It is located next to the 100-year-old Acme Brick factory in Denton.
Financial terms of the deal were not disclosed, and it is said to be valued at more than $60 million.
Austin investment firm Pennybacker Capital is an equity partner in the Class A industrial development, which is scheduled for completion in January 2023, and was funded by First United Bank.
GSR Andrade Architects was the architect, Kimley Horn was the engineer and Ridgemont Construction was the general contractor.
Keaton Blythe, Andrew Gilbert and George Jennings of Holt Lunsford handled leasing for the property.
HighStreet Logistics Properties is headquartered in Massachusetts with offices in Atlanta, Chicago, Philadelphia and Dallas. Since its founding in 2002, the company has acquired and developed more than $5.1 billion in industrial and logistics real estate.
