M2G Ventures has added eight more warehouses to its Dallas portfolio.
The firm plans to renovate the properties to bring new businesses to the area and are looking for even more warehouse properties in the Dallas area that can be repurposed, according to the Dallas Morning News.
The Fort Worth-based real estate investor has recently made headlines as a women-led commercial real estate firm with $230 million in capitalized value over just two years. M2G specializes in adaptive reuse and urban industrial developments — think chic modern cafe lounge in a turn-of-the-century train station, or a crypto company’s offcies in a historic clock tower.
Adaptive reuse has become increasingly popular in Dallas as developers seek to utilize the city’s historic industrial space to accommodate its growing tech sector. The strategy has certainly worked for M2G, as the firm has executed 40 leases in the last 12 months, totalling approximately 1.2 million square feet.
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M2G’s new collection of warehouses are part of the firm’s latest round of acquisitions in the Brookhollow Industrial District northwest of downtown Dallas. The purchase includes the six-building Commonwealth Business Park on Woodall Street, located between the Dallas Design District and the medical district, plus two more office and warehouse buildings across the street.
M2G is planning a full-scale “rebrand” of the 113,000-square-foot Commonwealth Business Park, says co-founder Jessica Miller Essl, who called the property “the premier asset in the acquisitions.”
Last year, the firm bought a 250,000-square-foot 1960s industrial complex and renovated it into a new business center called Proto Park. It is best known for its hand in redeveloping Mule Alley, a mixed-use project in Fort Worth’s historic stockyards.
“There is a lot of capital chasing industrial,” Essl said. “We love looking at old buildings and thinking about what a user wants and turning it into new life.”
M2G is aiming at more than $1 billion in additional property investment in North Texas, the company announced last month.
[DMN] — Maddy Sperling