April 18, 2022
M2G Ventures Redeveloped and Leased This Logistics Property in Just One Year
By Spencer Brewer, Dallas Business Journal, April 15, 2022
An undisclosed tech company has signed a roughly 100,000-square-foot lease at 3101 Pinewood Drive in Arlington after M2G Ventures successfully redeveloped the logistics property.
Stream Realty Partners executed the lease, according to a news release. The building sat empty for a decade before M2G Ventures acquired it last year. The North Texas-based real estate, investment, and development company redeveloped the project in just one year.
“We are so proud to deliver this urban industrial asset in such a tight submarket. We are thrilled a leading-edge technology company has chosen Pinewood to be their distribution facility.”Jessica Miller Essl, Co-Founder of M2G Ventures
The 100% leased, single-tenant redevelopment project is in the Great Southwest-Arlington submarket. Total net absorption in the submarket topped 268,000 square feet in the first quarter, according to JLL’s Dallas-Fort Worth Industrial Insight Q1 report. Vacancy in the submarket is just under 4%, and there are about 1.2 million square feet under construction.
Late last month, an undisclosed company signed a 377,000-square-foot lease at North Quarter 35, which M2G Ventures developed. Last month, M2G Ventures announced it had over $1 billion worth of development in the planning stages.
M2G Ventures has executed 40 leases in the last 12 months, representing approximately 1.2 million square feet. The company acquired and redeveloped about 2.63 million square feet representing over $230 million in capitalized value over the last two years.