M2G Ventures Buys Dallas Design District Complex From Hines

M2G Ventures has expanded its North Texas portfolio by acquiring 740,000 square feet of flex warehouse space near Dallas’ Design District.

The Fort Worth-based firm purchased the Inwood Design Center, a 14-building complex consisting of light industrial, showroom and retail spaces at 1110 Inwood Road, the Dallas Business Journal reported. Houston-based Hines was the seller of the 38-acre property. The price wasn’t disclosed. 

Shop Companies’ Jake Sherrington and Victoria Pappas handle leasing for the complex’s retail and showroom spaces. Holt Lunsford’s Canon Shoults and Maddy Coffman handle leasing for the industrial components. 

M2G Ventures, founded in 2014 by sisters Jessica Miller Essl and Susan Miller Gruppi, specializes in mixed-use and urban residential developments in Fort Worth and Central Texas. They are part of the partnership investing in the $1 billion Stockyards expansion, which will add 300,000 square feet of commercial space, along with at least 500 hotel rooms and 295 multifamily units.

The Inwood Design Center is near Dallas’ West Brookhollow, a key industrial market with 43 million square feet of inventory and a vacancy rate of 7 percent. This acquisition fits into the firm’s broader strategy of purchasing large infill industrial assets in high-demand areas. 

The property is 93 percent leased, with tenants such as Crate & Barrel, Neiman Marcus and Community Coffee. M2G Ventures plans to upgrade the complex by enhancing parking areas, installing new lighting and revamping tenant storefronts. 

M2G Ventures has been purchasing properties across Texas through its Grey Swan I general partner equity fund. The company recently acquired a 54,000-square-foot mixed-use property in Austin and a 215,000-square-foot industrial complex in Garland. 

The firm also recently sold its 257,000-square-foot Proto Park industrial property, at 3200 Irving Boulevard in Northwest Dallas to California-based investor Bendetti for an undisclosed amount.

— Andrew Terrell

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