M2G Ventures, the Fort Worth real estate investment and development company, said Tuesday it and Pennybacker Capital LLC of Austin were teaming up to redevelop a 250,000-square-foot urban industrial project in Dallas’ West Brookhollow.
The project, at 3200 Irving Blvd., will be called PROTO Park. It “will be the first industrial project of its kind in West Brookhollow,” the developers said in a release. “The sophisticated new design, expected to be completed by late fall 2021, aims to attract the most discerning, innovative light industrial and logistics users.”
The nine-acre site, adjacent to Dallas’ Design District, is close to Uptown Dallas, Downtown Dallas, and Dallas Love Field.
“PROTO Park will be transformed from a 1960s Chicago-style brick warehouse into a first-class modern industrial project,” the developers said. “Redevelopment plans include new site upgrades and extensive exterior finishes both to the façade and building structures, new accent and site lighting, new paving, enhanced parking and loading areas, water-efficient landscaping, and prominent monument signage on Irving Boulevard. The tenant suite interiors will be in ‘white-boxed’ condition with upgraded utility systems and modern building features highlighting the project’s 20’ – 24’ clear heights.”
Method Architectures is the architect of record.
It's the second project in the last week that M2G, which got its start in industrial and has been focusing more energy on, has announced with Pennybacker.
“We are excited to partner with M2G to build a creative, new standard for urban-industrial space in the coveted Dallas-Fort Worth market,” Thomas Beier, partner and portfolio manager, value funds at Pennybacker Capital, said in the release. “We named the project PROTO Park because we want it to be a prototype of innovation, where tenants will not have to sacrifice form, function or design to meet their needs.”
“Together with Pennybacker Capital, we intend to redevelop this asset into a first-class industrial project, one that showcases the possibilities when thoughtful design is applied to logistics, distribution, showroom, and warehouse needs in a location where users truly want to be,” Jessica Miller Essl, co-founder and co-president of M2G Ventures, said in the release.