M2G Ventures, a real estate investment and development firm, has sold three buildings, which are fully leased, to Mavik Capital Management. This is an opportunistic investor.
The total area of the portfolio is 445,497 sq. ft. Tenants in the portfolio include CAE, Home Zone/Alpha Furniture and Rent-A-Wheel/Rent-A-Tire, according to a news release.
Jessica Miller Essl said in a statement that the GSW submarket is an infill location that has significant barriers to entry, and provides immediate connectivity to DFW’s main commercial and residential hubs. This high-performing portfolio gave the buyer a rare chance to own substantial holdings in one of the most robust industrial markets in the country.
Portfolio includes a 103 658 square foot building at 2895 113th St in Grand Prairie; a 100 129 square foot building at 3101 Pinewood Drive Arlington and a 241,710-square-foot property at 2302 West Marshall Drive Grand Prairie.
M2G Ventures has redeveloped an infill logistic facility at 3101 Pinewood Drive.
The building was vacant for ten years before M2G purchased it in 2021. The building's truck and power courts were upgraded, and speculative offices added. A new roof was installed, and the facade and landscaping was improved. Essl stated in a statement that the building is now completely leased to CAE.
M2G Ventures has acquired and redeveloped over 2.68 million square foot in the last two years. This represents more than $290 millions of capitalized value. M2G Ventures will continue its focus in 2023 on its primary investments strategies, which include acquiring and developing industrial and mixed-use properties in locations with limited supply.