A New York-based investor has snapped up a new Mesquite business park.
A unit of global investment firm Kohlberg, Kravis, Roberts & Co. acquired ownership of the first phase of the Urban District 30 industrial park.
Ground was broken in January 2020 for the five-building, 980,000-square-foot industrial project near Interstate 30.
Urban District 30 is a project of Urban Logistics Realty and a private real estate equity fund advised by Crow Holdings Capital. The development was projected to create almost 500 jobs.
Stream Realty Partners marketed the project to tenants. KKR acquired the property last week, Dallas County deed records show. It’s the second recent North Texas industrial purchase by the international investor.
In December, KKR bought the Southlink Logistics Center, off Cleveland Road near Interstate 20 in southern Dallas County. The more than 1-million-square-foot distribution building was built by Houston-based Hines and leased to Amazon this year.
The Dallas-Fort Worth area is the country’s hottest industrial building market, with more than 25 million square feet of warehouse and distribution buildings on the way.