Tuesday Morning’s Former Distribution Hubs in Dallas Gain New Life

By Candice Carlisle, CoStar News, July 13, 2023

M2G Ventures Plans To Invest ‘Significant Capital’ in Upgrading the Buildings to Find New Tenants

The winding down of Tuesday Morning’s operations in what is expected to be a conversion to a Chapter 7 bankruptcy case leaves its real estate up for grabs and some of its landlords looking to reposition the retailer’s industrial properties in Dallas.

M2G Ventures, the Fort Worth, Texas-based real estate investment and development firm and landlord to Tuesday Morning’s industrial properties in Dallas-Fort Worth, plans to invest “significant capital” into improvements to upgrade 1.1 million square feet at 14303 Inwood Road, 14621 Inwood Road, 14601 Inwood Road and 14639 Inwood Road, as well as 4400-4404 S. Beltwood Parkway in Addison and Dallas.

The real estate investment firm bought the real estate in December 2020 after Tuesday Morning sold some real estate in a different bankruptcy case. Tuesday Morning’s latest bankruptcy filing is its second in the past three years.

M2G Ventures has hired Lee & Associates, in collaboration with Rich Young Co., as its leasing brokers on the 46.7-acre assemblage of industrial properties, which are being rebranded Inbound on Inwood. The facilities have space available ranging from 7,000 square feet to 1.1 million square feet, with an offering of “limited sales opportunities.” The buildings have parking, offices and distribution space with clear heights ranging from 20- to 29-feet, with loading options from front-load to rear-load to cross docks.

Adam Graham, a principal at Lee & Associates, said the size of this portfolio is “one of the largest infill urban industrial plays” in the Dallas-Fort Worth region in recent years. Additional plans, along with project renderings for the project, are expected to be announced in the coming weeks.

Industrial vacancy in this part of Dallas-Fort Worth, the nation’s fourth-largest metropolitan area with more than 7.7 million residents, is lower than the rest of the region at 5.7%, according to CoStar data. Meanwhile, rents average about $12.20 per square foot in the area, which is about $3 more per square foot than the average for Dallas-Fort Worth, according to CoStar.