April 17, 2023
M2G Ventures Sells Three-Building Industrial Portfolio in Great Southwest
By Spencer Brewer, Dallas Business Journal, April 14, 2023
Real estate investment and development company M2G Ventures has sold a three-building, fully leased portfolio to Mavik Capital Management, an opportunistic investment firm.
The portfolio, located in the Great Southwest submarket, totals 445,497 square feet. Tenants in the portfolio include CAE, Home Zone/Alpha Furniture and Rent-A-Wheel/Rent-A-Tire, according to a news release.
“The GSW submarket cluster is an irreplaceable infill location with significant barriers to entry and immediate connectivity to DFW’s primary commercial and residential hubs. This high-performing portfolio offered the buyer the rare opportunity to acquire substantial holdings within one of the country’s most robust industrial markets.” – Jessica Miller Essl
The portfolio includes the following assets; a 103,658-square-foot building located at 2895 113th Street in Grand Prairie, a 100,129-square-foot building located at 3101 Pinewood Drive in Arlington, and a 241,710-square-foot building located at 2302 West Marshall Drive in Grand Prairie.
M2G Ventures redeveloped the infill logistics facility at 3101 Pinewood Drive.
“The building sat vacant for 10 years before M2G acquired it in 2021. The redevelopment included upgrades to the building’s power and truck courts, speculative office additions, a new roof, a facade overhaul, as well as improved landscaping and lighting. It is now fully leased to CAE,” Essl said in a prepared statement.
Over the past two years, M2G Ventures acquired and redeveloped more than 2.68 million square feet representing more than $290 million in capitalized value. In 2023, M2G will continue to focus on its primary investment strategies of acquiring and developing infill industrial and mixed-use assets in supply-constrained locations.