M2G Ventures Sells Dallas Industrial Portfolio

3101 Pinewood Drive, Arlington, Texas. Image courtesy of M2G Ventures

M2G Ventures has sold a three-building industrial portfolio totaling more than 445,000 square feet in Dallas–Fort Worth’s Great Southwest submarket to Mavik Capital Management, a New York–based opportunistic investment firm.

The property collection totals 445,497 square feet on 27.56 acres. It is fully leased to tenants including technology company CAE, Home Zone/Alpha Furniture and Rent-A-Wheel/Rent-A-Tire.

The portfolio includes:

• 2302 W. Marshall Drive in Grand Prairie, Texas, totaling 241,710 square feet
• 2895 113th St., also in Grand Prairie, totaling 103,658 square feet
• 3101 Pinewood Drive in Arlington, Texas, totaling 100,129 square feet

Jessica Miller Essl, co-founder of M2G Ventures, a real estate investment and development company based in North Texas, said in a prepared statement that 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.

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Essl explained that M2G redeveloped the infill logistics facility at 3101 Pinewood Drive after acquiring it in 2021, prior to which the property had sat vacant for 10 years. The redevelopment included upgrades to the building’s power and truck courts, the addition of office space, a new roof, a facade overhaul and improved landscaping and lighting. This building is now fully leased to CAE.

Newmark‘s investment sales team of Stephen Bailey, Dustin Volz, Dom Espinosa and Zach Riebe (formerly with JLL) represented the seller.

Texas-sized industrial development

Dallas–Fort Worth leads the nation for industrial space development, with nearly 15 million square feet of space begun in the first quarter and a total of more than 60 million square feet in the construction pipeline, according to a first-quarter report from JLL.

Occupier demand is almost keeping pace; total vacancy metro-wide crept up to 7.4 percent. Still, demand is strong across a range of sizes, and there have been flight-to-quality relocations within the region, JLL reports.

The GSW submarket enjoys a somewhat tighter overall vacancy for warehouse/distribution space, of 5.3 percent, on an inventory of 92.8 million square feet.

Besides the CAE lease, M2G has knocked down some good-sized deals in the past 12 months or so:

• A year ago March, M2G signed a tenant for two buildings totaling about 377,000 square feet at North Quarter 35, a Class A industrial park in north Forth Worth
• And this past March, an international aviation company leased 23,040 square feet at PROTO Park in Dallas, which M2G had redeveloped in partnership with Pennybacker Capital.