Urban Logistics Realty kicks off first development in Northwest Houston with 238,000 SF project

HOUSTON – Aug. 31, 2022 – A joint venture between Dallas-based developer Urban Logistics Realty (ULR) and a real estate fund advised by Crow Holdings Capital has broken ground on Urban District 290, a two-building urban industrial development totaling 238,200 sq. ft. in Northwest Houston. This marks ULR’s first project in Houston. Nathan Wynne and Jason Dillee with CBRE have been selected as the exclusive marketing and leasing agents for the project.

Located near the corner of Highway 290 and Bingle Road, the project’s unique infill location makes it one of a kind among Houston industrial developments, offering users immediate access to the highly coveted 290 Corridor. The development is scheduled for completion in the second quarter of 2023.

“We couldn’t be more excited to kick off our first development in northwest Houston with Urban District 290,” said Adam Herrin, Co-Managing Partner at Urban Logistics Realty. “This site represents the most urban and infill location in Northwest Houston currently under development, and it fits squarely into our investment strategy. We’re big believers in the Houston market, and we’ll be investing here for years to come.”

Building 1 will be a 64,800-sq.-ft., side-load facility and feature 13 dock-high doors with an oversized drive-in ramp. Building 2 will be a 173,400-sq.-ft., cross-dock facility. It will feature 32 dock-high doors, two oversized drive-in ramps and parking for 30 trailers. Both buildings will include speculative office space, 32’ clear heights, ESFR sprinkler systems and ample car parking.

“With overall tenant and activity absorption at record highs in Houston, Urban District 290 has the perfect combination of product type, amenities, access to major thoroughfares and location to fit the northwest Houston submarket,” said Mr. Dillee. “The submarket has very little Class A availability and Urban District 290 represents the most infill location for prospective tenants.”

Inbound company migration propelled by population growth and port expansion drove Houston’s net absorption to record-breaking levels in the second quarter of 2022, according to CBRE Research. The metro’s industrial pipeline expanded for the fifth consecutive quarter, reaching 23.4 million sq. ft. The northwest submarket was among the most active for building activity in Houston, with 7.6 million sq. ft. underway in the second quarter.