Fort Worth-based M2G Ventures has acquired a 38-acre lot with more than a dozen buildings near Dallas’ Design District.
The mixed-use property purchase extends M2G’s real estate empire. The commercial real estate firm announced the acquisition of the 740,000-square-foot Inwood Design Center on February 28. The center, which is comprised of 14 buildings, sits at 1110 Inwood Road, just south of I-35.
“Guided by the company’s purpose to inspire evolution through impact and innovation, M2G Ventures thoughtfully and conscientiously invests in distinctive mixed-use and industrial development projects with a focus on creating places that users want to be,” reads a description of M2G on its website.
M2G purchased the property from the previous owner, Hines Interest LP, a Houston-based real estate company. The design center includes light industrial, showroom, and retail space.
The site is west of the industrial-focused West Brookhollow submarket, which boasts 43 million square feet of inventory and a roughly 7% vacancy rate.
According to M2G, the women-owned firm has acquired over five million square feet of property across $1.6 billion in transactions since its founding in 2014. Projects range “from adaptive reuse, mid-century warehouses, complete building transformations to redevelopments of historic buildings and large-scale Class A industrial developments.”
Tenants of the 93% leased Inwood Design Center currently include White Glove Storage and Delivery, Community Coffee, Neiman Marcus, Crate & Barrel, and Grainport USA.
M2G intends to refresh the center, emphasizing branding, art, and signage. The firm plans to upgrade exteriors and storefronts and improve parking and lighting, among other enhancements.
“This acquisition aligns with our team’s strengths,” Brett Zimmerman, principal of M2G Ventures, said in a statement, per Dallas Business Journal.
“Through strategic improvements, we look forward to reintroducing this asset to the market.”
Jake Sherrington and Victoria Pappas of Dallas-based commercial real estate agency SHOP Companies will lease the retail and showroom portion of the center. Canon Shoults and Maddy Coffman of another Dallas-based commercial real estate firm, Hold Lunsford, are expected to lease the industrial section.