December 7, 2022
M2G Ventures Opens Austin Office
By Press Release, Fort Worth Report, December 7, 2022
M2G Ventures, a North Texas-based real estate investment and development company, welcomes Brett Zimmerman as principal of the new Austin office as the company expands across Texas. In his new role, Zimmerman will lead M2G’s platform in Austin, San Antonio, and the surrounding Central Texas markets, while focusing on the firm’s primary investment strategies of industrial and mixed-use.
“Brett’s strategic hiring expands M2G Ventures to the Austin and Central Texas markets where he will manage all investment activities including sourcing, structuring, and capitalizing new opportunities,” said Jessica Miller Essl, co-founder of M2G Ventures. “Combining the creation of a local team while also sharing the M2G culture is important to us as we actively seek opportunities for the acquisition and development of industrial and mixed-use assets that positively impact the community and stakeholders.”
“M2G’s track record across North Texas is phenomenal, and I look forward to bringing that entrepreneurial spirit to Central Texas,” Zimmerman said. “This is an incredible opportunity to expand our platform in some of the best real estate markets in the world, and in doing so, create places where users truly want to be. We intend to respond to the challenging capital markets environment by focusing on our long-term secular themes, by emphasizing quality of asset and location, and by partnering with best-in-class people to drive our business plans and broader mission.”
For the past seven years, Zimmerman worked at Pennybacker Capital, where he ended as a director on the investments team originating equity investments on a direct and joint venture basis. He spent the past three years focused on investments in the logistics sector across select US growth markets.
Zimmerman said M2G’s Austin acquisition strategy can be best demonstrated by examining the firm’s current investment themes of acquiring and developing infill industrial and mixed-use assets in supply constrained locations.
In the Class A light industrial sector, M2G Ventures acquired and developed North Quarter 35, a ground-up four-building development project totaling 645,000 square feet in North Fort Worth. M2G’s design, marketing, leasing and placemaking approach achieved premium rents and lease-up, bringing the project to 100% leased in Q3 2022 to a Class A tenant mix.
Similarly, M2G acquired and transformed PROTO Park, an urban industrial development suffering from absentee ownership, into a top-of-the-submarket building in Dallas. M2G redeveloped the property by focusing on strategic capital improvements and repurposing the buildings into showroom space for users under 50,000 square feet. Targeting business-to-consumer and e-commerce users, this innovative development approach brought the property to 81% leased.
In the adaptive re-use and mixed-use realm, M2G created successful projects with The Foundry District in Fort Worth and Mule Alley in the historic Fort Worth Stockyards. At The Foundry District, M2G transformed six acres of mid-century warehouses into an adaptive re-use district featuring 98,000 square feet of redevelopment, anchored by Inspiration Alley, recognized as Texas’ largest outdoor art gallery. The project features a curated mix of showrooms, creative offices, amenities and food and beverage tenants. The Foundry District was 95% leased upon its sale to Asana Partners in September 2022. Mule Alley is a $200M first phase of development with M2G completing its role as the exclusive retail partner for the adaptive reuse of the historic horse and mule barns with Stockyards Heritage. The transformational project is now 96% leased, with several more tenants opening soon.
Over the past two years, M2G Ventures, a WBE (women-owned business) certified company, doubled the size of its overall team and tripled its leadership team with more than a half-dozen executive-level positions to oversee acquisitions, operations, asset management, construction, development and leasing across the Dallas-Fort Worth Metroplex and Austin.
“This is just the beginning, and we look forward to continuing to make an impact for generations to come with a fully integrated, best-in-class team performing at the highest level,” Miller Essl added. “M2G is growing swiftly, organically, thoughtfully, and strategically with a mission to inspire evolution through impact and innovation. Bringing Brett to the executive team will only enhance those efforts as we make a thoughtful entry into the Austin, San Antonio and Central Texas markets.”