A decades-old printing press hub for the Dallas Morning News in a Dallas-area suburb sold to a new owner last year that plans to give the building a new life as an electric golf cart manufacturing hub.
Denago EV plans to make the roughly 620,000-square-foot structure on a 29-acre tract along Plano Parkway into its new Southern U.S. production and manufacturing facility for its electric golf cart line.
Denago EV paid $43.5 million for the printing press, with the proceeds of the deal helping fund pensions for more than 1,300 of the newspaper's workers.
The deal commanded a higher valuation than a speculative warehouse redevelopment, with the sale exceeding its initial market value expectations, officials said. The deal also benefitted the city of Plano, with it securing a manufacturing tenant expected to create jobs and modernize the facility, while preserving a facility that helped produce news in the Dallas-Fort Worth region.
The sale earned it a 2026 CoStar Impact Award, as judged by real estate professionals familiar with the market.
The new owner plans to preserve some of the iconic front pages of the Dallas Morning News at the site where the local newspaper has been printed since 1983. Some of the front pages of the Dallas Morning News expected to be preserved by Denago EV at 3900 W. Plano Parkway will be the 9/11 issue, the Dallas Cowboys' 1990s Super Bowl wins, U.S. presidential election outcomes and Dallas Mavericks' star Dirk Nowitzki with the 2011 NBA championship trophy.
About the project: The Dallas Morning News decided to part with the property, the last of its owned real estate, in a move expected to save it $5 million annually as it relocates its printing facilities to a smaller, leased building in nearby Carrollton, Texas.
What the judges said: Walter Bialas of Goodwin Advisors said the sale of the former Dallas Morning News printing press is a solid example of newer not always being better. Newmark's Ching-Ting Wang said the sale reflects what Dallas is known for — innovation and adaption as demand shifts, in this case, to advanced golf cart manufacturing. The deal also preserves the region's history, adding to its appeal, Wang said.
They made it happen: The seller, the Dallas Morning News, was represented by Holt Lunsford's Josh Barnes, Blake Troiani and Mitch Cantwell, as well as Foundry Commercial's Marty Neilon. The buyer, Denago EV, was represented by Preston Capital Realty's Lina Chen and Paladin Partners' Greg Nelson and Conrad Madsen. The buyer's lenders were East West Bank.