M2G Ventures, Pennybacker sells 250,000-square-foot PROTO Park in Dallas

M2G Ventures and Pennybacker sold the more than 250,000-square-foot PROTO Park industrial project at 3200 Irving Blvd. in Dallas to Irvine, California-based Bendetti for an undisclosed amount.

The joint venture acquired PROTO Park in September 2020 and completed the redevelopment of the project in the fourth quarter of 2021. It transformed from a 1960s brick warehouse into a premier project of choice for logistics companies, consumer distribution tenants and e-commerce players unlike any other.

PROTO Park represents one of the most desirable infill locations in the DFW industrial market by filling a much-needed niche in the West Brookhollow submarket. Strategically located between I-35, State Highways 183 and 114, the project is three miles from Uptown Dallas, four miles from Dallas Love Field, and five miles from Downtown Dallas, making it an ideal last-mile location easily accessible from the city’s most affluent and densely populated areas.

Besserer said M2G’s strategy and ingenuity influenced each design decision down to suite locations. He credits the project’s success with M2G’s laser focus on attracting a great tenant base. The property is 100% leased to Morrison Supply, Taxila Stone, Preziosa Stone, Dynasty Distilling and an undisclosed international aviation group.

Newmark Vice Chairmen Dustin Volz and Stephen Bailey, Senior Managing Director Dom Espinosa, Managing Director Zach Riebe, Analyst Travis McEldowney and Transaction Manager Caroline Wilson represented M2G Ventures in the sale to Bendetti. Stream Realty Partners Senior Vice President Sarah Ozanne and Vice President Lena Pierce Thomas represented M2G for leasing.

Leasing momentum for M2G-developed properties continues in West Brookhollow, Besserer said. The company’s six-building Archetype at 3131 Irving Blvd., made for light industrial, flex, showroom and retail, currently has 5k to 25k SF available. Additionally, Woodall at 4919 Woodall St., is a perfect choice for logistics, showroom, distribution, manufacturing or e-commerce for a single-tenant user with up to 50k SF available.