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6/07/24
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Bendetti has purchased Proto Park, a 257.2k sf industrial asset located at 3200 Irving Blvd in Dallas, TX. The property is 100% leased to Morrison Supply, Taxila Stone, Preziosa Stone, Dynasty Distilling and an undisclosed international aviation group.
Bendetti made the acquisition in a joint venture with RGA ReCap Incorporated (ReCap Real Estate Investments) on behalf of Reinsurance Group of America, Incorporated (RGA). The property was sold by M2G Ventures for an undisclosed amount.
Proto Park was built in 1965 and completed a significant renovation in 2022. It is strategically positioned west of the Dallas central business district within the mature Brookhollow industrial micro-market; with immediate connectivity to primary Dallas/Fort Worth commercial and residential hubs.
The Brookhollow submarket is one of the top DFW locations for logistics companies, consumer distribution tenants, and e-commerce. As one of the most infill locations in the DFW industrial market, tenants can reach Uptown Dallas, Dallas Love Field, and Downtown Dallas all within a five-mile radius, making the property an ideal last-mile location.
Dustin Volz, Stephen Bailey, Dom Espinosa and Zach Riebe with Newmark represented the seller in the deal.
“This is an irreplaceable property in an extremely infill Dallas location and reflects the market fundamentals that we seek when considering an investment property. Looking ahead, Bendetti will continue its pursuit of light industrial opportunities in target markets that include Texas, Arizona, Nevada, Colorado, Utah, California, among others,” said Bendetti Director of Acquisitions Jon Moyer.
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