Newmark Arranges Sale of 257,192-SF, Fully Leased Industrial Asset in Dallas, Texas

June 10, 2024 10:00 AM

Newmark announces the sale of Proto Park, a 257,192-square-foot, two-building industrial asset located in the Brookhollow submarket of Dallas, Texas. Newmark Vice Chairmen Dustin Volz and Stephen Bailey, Senior Managing Director Dom Espinosa and Managing Director Zach Riebe represented the seller, M2G Ventures, in the sale to Bendetti.

Located at 3200 Irving Boulevard, the asset boasts a 100% occupancy rate with tenants such as Dynasty Spirits, an undisclosed international aviation group and Taxila Stone. Renovated in 2021/22, the property offers modern design and specifications, steady in-place cash flow and a nine-acre site with potential for long-term land use. Features include a covered loading dock, front/side loading options, 24’ clear height and fenced outside storage.

“Proto Park’s prime location with unparalleled access to major population centers positions it as a strategic asset for the buyer,” said Bailey. “The property’s recent renovation, full occupancy with diverse tenants and location underscore its appeal and promise a stable income stream. We are thrilled with the successful execution, reflecting the robust investment interest in shallow-bay product throughout Dallas.”

Proto Park provides easy access to I-35E, State Highway 183 and State Highway 114, well-positioned to reach over half of the Dallas-Fort Worth metroplex within a 30-minute drive. Situated less than three miles from the Dallas CBD, the asset benefits from proximity to a dense and highly-educated labor base.

About M2G Ventures
Guided by the company’s purpose to inspire evolution through impact and innovation, M2G Ventures carefully invests in distinctive mixed-use and industrial development projects with a focus on creating places that users want to be. Since its founding in 2014, the fast-growing company has become a leading voice in the industry through a bold strategy anchored by a dedication to innovation. The company’s capstone is a 501(c)(3) focused on changing the way we treat mental illness. The company is a Certified Women-Owned Business based in Fort Worth, Texas. Learn more at www.m2gventures.com.

About Bendetti
Founded in 1964, Bendetti brings more than 50 years of industrial knowledge to its work. The firm’s four million-square-foot portfolio currently spans CA, CO, NV, TX, and UT. The firm focuses on acquiring industrial real estate throughout the United States and provides “best-in-class” asset and property management services for its institutional and private equity investors. www.bendetti.com.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ended December 31, 2023, Newmark generated revenues of approximately $2.5 billion. As of March 31, 2024, Newmark’s company-owned offices, together with its business partners, operate from approximately 170 offices with 7,600 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

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