August 27, 2021
Fort Worth Group Makes Acquisition and Redevelops Site in Active Great Southwest Industrial Submarket
Robert Francis, Fort Worth Business Press, August 25, 2021
Fort Worth’s M2G Ventures, a real estate investment and development company, announced Aug. 25 the acquisition of 3500 Avenue E, a 141,658 square-foot urban industrial project and the construction of 3101 Pinewood, a 100,100 square-foot urban industrial redevelopment both located within the Great Southwest Industrial submarket.
Both assets, acquired in 2021, are the newest additions to the company’s urban industrial portfolio and continue to redefine what tenants can come to expect in the redevelopment of Class B products that meet today’s modern industrial standards. The redevelopments are expected to deliver soon, with Pinewood wrapping up by late September 2021 and Avenue E beginning construction in November 2021.
Located at 3101 Pinewood Drive and 3500 Avenue E, the redevelopments are strategically located in the Great Southwest submarket, with convenient access and unmatched advantages to a wide range of industrial users and multiple transportation nodes in the DFW Metroplex. The submarket is one of the tightest and most attractive in DFW, due to the low vacancy rate and super-regional location.
“We are pleased to continue increasing our DFW urban industrial portfolio of institutional quality assets. As one of the most active buyers in the DFW market, we are looking forward to creating places users want to be as our laser-focused acquisition strategy continues across the metroplex, including the Great Southwest.”Susan Gruppi, co-president of M2G Ventures
“With the acquisition of Avenue E and the redevelopment underway of Pinewood, we are bringing to market two sought after opportunities in one of the tightest submarkets in DFW. We look forward to bringing both buildings up to today’s modern industrial standards.”Jessica Miller Essl, co-president of M2G Ventures
The company is investing in strategic renovations for Avenue E, including storefront upgrades, roof repairs, enhanced power, lighting, landscaping, paving, and modern paint and exterior updates. The 8.59-acre property also includes the ability to have up to two acres of fenced yard space – one of the most unique opportunities in any DFW urban submarket. The building also possesses a modern 148’ truck court, 4,000 square-feet of SPEC office space, an 18-foot clear, rear and side loading.
Well-underway, Pinewood renovations include a new storefront, roof, landscaping, and new modern paint and exterior updates configured to meet all industrial needs like warehousing, assembly and logistics. The 20-foot clear modern industrial asset will feature 13 dock high doors, drive-in doors and 2,000 square-feet of SPEC office space. The company is also increasing the front load configuration’s truck court depth to meet today’s industrial standards.
Cameron Deptula and David Guinn of Davidson Bogel Real Estate represented M2G Ventures in the acquisition of Avenue E. Stephen Williamson and Adam Graham of Lee & Associates represented M2G Ventures in the acquisition of Pinewood.
For more information on leasing opportunities at Avenue E, please contact Luke Davis or Mike Knudsen of Stream Realty Partners. For Pinewood, please contact Stephen Williamson or Adam Graham of Lee & Associates.