April 27, 2023
North Texas Company Makes a Splash Into Austin With Industrial Acquisition
M2G Ventures Partners With Blue Vista Capital to Acquire 54,000-Square-Foot Property
By Parimal M. Rohit, CoStar News, April 27, 2023
A North Texas-based real estate investment and development company has acquired its first property in Austin, Texas.
M2G Ventures, in a partnership with Chicago-based Blue Vista Capital Management, acquired the 54,000-square-foot light industrial building at 4806 Commercial Park Drive in Northeast Austin. The property is located near the intersection of U.S. Highway 290 and U.S. Highway 183. Terms of the deal were not disclosed.
An M2G Ventures spokesperson said the company plans to make “significant capital improvements” to the light industrial building, a single-tenant structure built on 3.93 acres in 1983.
M2G Ventures, a few months earlier, announced Brett Zimmerman will lead the company’s Austin office, which would focus on growth in the Central Texas region. Expanding into Austin is part of the North Texas-based real estate company’s “overall strategy to expand its footprint across the state.”
“The Austin market is seeing significant demand from industrial manufacturing users, particularly, those who are looking for infill space in this size range. The convenient location and quality of this property along with plans for growth in the area, make this an incredible opportunity to expand our platform and successful track record in Austin.” – Brett Zimmerman, Principal, M2G Ventures
A M2G Ventures spokesperson said the company plans to upgrade the property’s landscaping, create move-in ready interior offices, upgrade the building’s frontage, add new signage, paint the building and extend the truck court.
“M2G will extend our strategic value-add approach seen throughout the DFW industrial market and invest significant capital to upgrade the property, which was built in 1983 and last updated about a decade ago. Renovations will offer a refreshed, innovative redevelopment that appeals to modern industrial users,” – Brett Zimmerman, Principal, M2G Ventures
The property was attractive to M2G Ventures, according to its spokesperson, because of its close proximity to freeways and access to dense Austin neighborhoods.
Carr Lane Drill Bushing Co. was listed as the building’s owner and tenant at the time of the transaction, according to CoStar data. The property is available to be leased as Carr Lane Drill Bushing Co. no longer owns the building, nor is it remaining on-site as a tenant.
Leigh Ellis, Will Sikora and Chris Perry brokered the building’s sale; they are also handling the building’s leasing.
M2G Ventures, which was founded in 2014, acquires and develops industrial and mixed-use properties in what it describes as “supply-constrained” markets. The company has acquired or redeveloped more than 2.68 million square feet of properties.