A California real estate investor has purchased an industrial property in northwest Dallas.
Bendetti, which is based in Irvine, bought the two-building, 257,000-square-foot asset, known as Proto Park, from M2G Ventures. The sale price was not disclosed, but the property was valued at $16.7 million in 2024, according to appraisal district records. Newmark represented the seller.
Newmark’s team included Dustin Volz, Stephen Bailey, Dom Espinoza and Zach Riebe.
The property is located at 3200 Irving Boulevard, about six miles from downtown Dallas. Proto Park is fully leased. Its tenants include Gulfstream Aerospace, Dynasty Spirits and Taxila Stone.
The property features a red brick exterior. It was built in the 1960s and renovated in 2022.
The Dallas submarket of Brookhollow, which is where Proto Park is located, is also home to warehouse facilities for Goodyear Tire, Frito-Lay and Sherwin-Williams. Proto Park is just four miles from Dallas Love Field Airport and 15 miles from DFW Airport. Its location provides easy access to some of the Metroplex’s most critical arteries, state highway 114 and Interstate 35.
North Texas is one of the fastest-growing industrial markets in the country. At the end of last year, the region had nearly 40 million square feet of industrial space under construction. Demand, however, has started to cool, and the asset class’ sublease market is growing. It reached 14 million square feet at the end of last year.
Bendetti was founded in 1964 and operates in California, Colorado, Nevada, Texas and Utah. The firm’s portfolio includes 4 million square feet of property.
Bendetti owns six industrial properties in North Texas totalling about 290,000 square feet. Proto Park is the firm’s largest property in the Metroplex.
M2G Ventures was founded in Fort Worth in 2014. The firm focuses on investing in and developing mixed-use and industrial developments.
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