This Week's Dallas-Fort Worth Deal Sheet
A 250K SF urban industrial park in the Dallas Design District has traded hands.
M2G Ventures and Pennybacker sold Proto Park at 3200 Irving Blvd. to California-based Bendetti for an undisclosed amount. The joint venture acquired the property in September 2020 and completed redevelopment efforts at the end of 2021.
“Proto Park set the gold standard and broke the mold for redeveloped industrial assets in the West Brookhollow infill submarket,” M2G Ventures co-founder Jessica Miller Essl said. “We had multiple offers in a very tough capital market, and we are pleased with the interest and congratulate Bendetti as the new owner.”
Newmark’s Dustin Volz, Stephen Bailey, Dom Espinosa, Zach Riebe, Travis McEldowney and Caroline Wilson represented M2G Ventures in the sale.
Stream Realty Partners’ Sarah Ozanne and Lena Pierce Thomas oversaw leasing at the property, which is now fully occupied.
PEOPLE
Jamie Cox joined Trademark Property Co. as senior vice president of property operations. Cox will lead the firm’s on-site and corporate property management teams.
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Class-A multifamily investment platform TDI tapped Graham Johnston and Patrick Crawford as senior vice presidents and partners. The former Riata Development co-founders will lead TDI’s efforts to solve DFW’s growing housing affordability crisis for thousands of middle-income residents.
SALES
Newmark facilitated the sale of DFW Point35, a 267K SF industrial property at 11085 Harmon Road in Fort Worth. The property is fully occupied by GITI Tire. Newmark’s Dustin Volz, Stephen Bailey, Dom Espinosa, Zach Riebe, Chloie Mercer and Caroline Wilson represented the sellers, Atlanta-based Stonemont Financial Group and Iron Point Partners. The buyer was undisclosed.
CONSTRUCTION AND DEVELOPMENT
Indoor pickleball franchise The Picklr plans to open three additional locations in the Dallas area over the next six months in Hurst, Denton and Lewisville. The facilities, which range from 22K SF to 26K SF, will each feature at least eight indoor courts with outdoor-style surfacing, a pro shop, private event space, unlimited league play, tournaments and open play.
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Hodges Development has begun development and construction of Heartland Town Square, the retail component of the Heartland master-planned community in Mesquite. The project, located at the southeast corner of Interstate 20 and FM 741, will include about 150K SF of retail across three buildings of about 30K SF in the first phase. The project was designed by Hodges Architecture, and leasing is being handled by Andrew Lehner at CBRE. The first tenants are scheduled to arrive in spring 2025.
FINANCING
JLL Capital Markets arranged financing for Anna Self Storage, an 840-unit self-storage facility at the intersection of Ferguson Parkway and Highway 455 in Anna. A JLL team comprising Casey Wenzel, John Bauman and Luke Rogers worked on behalf of the borrower, HPI Real Estate, to secure the five-year, floating-rate acquisition loan with Security National Bank.
