January 19, 2021

M2G and Pennybacker Purchase Tuesday Morning’s 1.2M Square-foot Industrial Portfolio In One of the Top Markets in the Country

Tuesday Morning space includes 1.2M square feet of prime real estate, retailer exits bankruptcy

FORT WORTH, Texas – January 19, 2021 M2G Ventures, a North Texas-based real estate investment and development company leading through industry disruption, and Pennybacker Capital LLC, a data-driven real estate private equity firm, are pleased to announce the purchase of the 1.19 million square-foot industrial distribution facility and corporate store formerly owned by Tuesday Morning, located at 14303, 14621, 14601, 14639 Inwood Road and 4404 S. Beltwood Pkwy in Farmers Branch.  

The agreement also includes Tuesday Morning’s 105,000 square-foot headquarters, located at 6250 Lyndon B Johnson Freeway, Dallas, Texas.

“We are pleased to partner with Pennybacker to unlock value for Tuesday Morning, while significantly growing our urban industrial portfolio. This transaction is an important milestone in M2G’s history, for Tuesday Morning, and the industrial market, collectively.” 

Jessica Miller Essl, Co-founder of M2G Ventures

The 46.7-acre assemblage is ideally located along Inwood Road within the 95% occupied Metropolitan Addison submarket. The site is located less than 20 minutes from both Downtown Dallas and DFW International Airport, providing access to over 3.5 million people within a 30-minute drive-time. The buildings have clear heights in excess of 26 feet across the portfolio and are in immediate proximity to affluent growing areas including Addison, Richardson, Northwood Hills, Farmers Branch, and Carrolton along with the Galleria shopping district.  

The size of this portfolio offers optionality and serves as one of the largest single market urban industrial plays in recent news.

M2G and Pennybacker intend to deploy an innovative, value-add approach to investing in urban infill industrial properties in top DFW submarkets.  DFW is the overall fourth largest industrial market nationwide. With this acquisition, M2G has doubled down on its portfolio of urban industrial assets.

M2G is diving into the new year with a strong ability to be nimble, agile and strategic in deal flows with many more deals to come. Specializing in mixed-use, urban and Class A light industrial, and strategic partnerships with legacy asset owners, M2G anticipates continuous growth and success in 2021.

“There is more to come in 2021, but this is certainly a historic moment for all and the market as a whole.”

Jessica Miller Essl, Co-founder of M2G Ventures

Stephen Williamson and Adam Graham of Lee & Associates represented the partnership on this transaction.

About M2G Ventures
Guided by the company’s purpose to inspire evolution through impact and innovation, M2G Ventures carefully invests in distinctive, mixed-use, and industrial development projects primarily located in the Dallas/Fort Worth metroplex. The fast-growing company has become a leading voice in the industry through a bold strategy anchored by a dedication to innovation. In addition to its $220 million investment portfolio, the company specializes in strategic consulting for legacy projects, currently serving as the exclusive retail partner of the $200 million redevelopment of Mule Alley in the historic Fort Worth Stockyards. The company’s capstone is a social impact arm focused on changing the way we treat mental health. www.m2gventures.com.

About Pennybacker Capital
Pennybacker Capital is an alternative investment manager focused on real estate private equity and credit investments. Pennybacker employs an innovative, data-driven, and collaborative approach to identify and execute compelling real estate investment opportunities that aim to deliver consistent risk-adjusted returns and improve the lives of teachers, tenants, and teams.

Pennybacker pursues value, credit, and income and growth strategies across all real estate asset classes and has a proven 12-year investment track record of investing in and/or operating more than $3.2 billion of real estate throughout the United States. Pennybacker is headquartered in Austin with offices in Denver, New York, and Nashville. www.pennybackercap.com.