Newmark Secures 41,202-Square-Foot Industrial Lease for Specialized Products Company in Flower Mound, Texas

December 14, 2023 10:00 AM

Newmark announces that Specialized Products Company, a Dallas-based tool kit and test equipment supplier, has signed a new 41,202-square-foot industrial lease at Prologis Flower Mound 5 in Flower Mound, Texas. Newmark Vice Chairman Reggie Beavan, Executive Managing Director Chris Mason and Associate Director Jack Brewer represented the tenant in the transaction, bringing the 140,500-square-foot warehouse facility to 100% occupancy.

Located at 1200 Lakeside Parkway, the new space enables Specialized Products Company to fulfill its expanding distribution requirements as the company continues to keep pace with the rapidly growing industry.

“We are pleased to have played a key role in securing this substantial lease to accommodate Specialized Products’ growth requirements,” said Beavan. “The transaction underscores the strong demand for warehouse space in dynamic technology sectors and solidifies Dallas’ position as a premier distribution hub in the United States.”

Prologis Flower Mound 5 is one of six warehouses within the Prologis Flower Mound logistics complex. The facility features an array of coveted amenities, including 25’ clear heights, 14 overhead dock doors, an ESFR sprinkler system and rear load configuration. The property is strategically positioned just six miles from the DFW International Airport, providing convenient access to Hwy 121, TX-114 and I-635, as well as several local restaurants, shops and residential areas.

According to Newmark Research, Dallas currently ranks as the number one industrial market in the U.S. for 2023 year-to-date net absorption. In the third quarter of 2023 alone, the market experienced a positive absorption of 6.6 million square feet, bringing the year-to-date total to an impressive 25.1 million square feet.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ending December 31, 2022, Newmark generated revenues of approximately $2.7 billion. As of September 30, 2023, Newmark’s company-owned offices, together with its business partners, operate from approximately 170 offices with 7,400 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

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