February 29, 2024

Redeveloped Industrial Complex Near Design District Fully Occupied After New Lease

By Plamedie Ifasso, Dallas Business Journal, February 29, 2024

Developers transformed the park from a 1960s brick warehouse into a destination for logistics companies and more.

A redeveloped industrial complex near the Dallas Design District that changed ownership in 2021 is fully occupied after landing a new tenant.  

Preziosa Stone, which designs countertops for hospitality and multifamily projects, leased 23,874 square feet at the 250,000-square-foot Proto Park.

Sheenu George with KW Commerical, a segment of Austin-based Keller Williams Realty Inc, represented Preziosa Stone, and landlord/developer M2G Ventures was represented by Sarah Ozanne and Lena Pierce with Stream Realty Partners. 

“This development presented us with a great location for our team, as well as our customers, and the showroom space exceeded our expectations. Proto Park encourages innovation and collaboration; something that can be hard to find in an industrial setting.” 

Javier Price, Executive Vice President, Preziosa Stone

Fort Worth-based M2G Ventures has acquired 4.5 million square feet since its inception in 2014 and has over $650 million in assets under management and development, according to its website.

The real estate development and investment firm acquired the industrial property that now makes up Proto Park, located at 3200 Irving Blvd, from a California-based seller in 2021. M2G revamped and rebranded the site, transforming it from a 1960s brick warehouse into a destination for logistics companies, consumer distribution tenants, e-commerce firms and more.

“We saw an opportunity at Proto Park and through our redevelopment efforts, we have created a first-class urban industrial project with modern design, top-of-the-submarket building specifications, and powerful brand visibility the area had been lacking.”

Jessica Miller Essl, Co-Founder, M2G Ventures

Susan Gruppi Miller, co-founder of M2G Ventures, said the park “has a track record of attracting the most discerning, innovative light industrial and logistics users.”

The tenant mix includes Dynasty Distilling, Taxila Stone and an international aviation group, she said.

M2G Ventures is also redeveloping the former Tuesday Morning distribution complex, a 1.1 million square-foot industrial property located in Farmers Branch, and served as an advisor to Mule Alley, a mixed-use and restaurant center in Fort Worth that opened in 2020, according to its website.