M2G Ventures Acquires 2 Dallas Industrial Properties (September 9, 2024)

Real estate investment and development firm M2G Ventures raised Grey Swan I, its first general partner equity fund, and made its first two acquisitions in Dallas’ Redbird neighborhood.

Courtesy of M2G Ventures

Two-building Mint Way portfolio

The Mint Way portfolio consists of two buildings and includes a 150,000-square-foot, multi-tenant property located on a shallow bay on a nearly 7-acre site at 4647 Mint Way, while Platinum Way is a 120,000-square-foot, single-tenant, industrial building located at 4130 Platinum Way.

“The recent volatility in the real estate capital markets has created opportunities for our teams to find strong risk-adjusted returns across our target asset classes and geographies,” Susan Miller, co-founder of M2G Ventures, said in a statement. “We believe the market will create opportunities for entrepreneurial groups like M2G that can act quickly and strategically to take advantage of the shift in 2024 and beyond.”

PEOPLE

Haynes and Boone LLP has hired Ben Herd as a real estate partner in the firm’s Dallas office. Herd, who previously worked at Holland & Knight LLP, has been practicing law in Dallas for nearly 25 years.

TURNOVER

Institutional Property Advisors facilitated the sale of Grand Riviera, a 206-unit multifamily property in Irving, last week. The two-story, garden-style complex was built in 1972 and includes two swimming pools, a dog park and a picnic area. The buyer, Lone Star Capital, was Taylor Hill, William Hubbard, Drew Kile, Joey Tumminello and Michael Ware of IPA. They also represented the seller, Eagle Property Capital.

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Industrial real estate investment firm CapRock Partners has acquired a 32.5-acre property in Sunnyvale in an off-market transaction with plans to develop it into a Class A industrial park. The future Clay Road Business Park will consist of three warehouses totaling approximately 518,000 square feet. Construction is scheduled to begin next year, with completion expected in 2026. Kurt Griffin, Nathan Orbin, Dalton Knipe and Weston King of JLL represented CapRock.

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Property manager Origin Investments has purchased the 300-unit multifamily complex The Starling in Princeton as its first Delaware Statutory Trust acquisition. Built in 2022, The Starling is a 12-acre property that includes 11 three-story, Class A, garden-style apartment buildings. The complex includes a resort-style pool, two private offices, a conference room and a dog park.

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Trive Real Estate Equity Management bought the 57,000-square-foot property at 7 Justice Way in Dallas. Trive and the seller, HTH 9800 Stemmons LLC, were represented by Giovanni Scardino and Jason Moser of Stream Realty Partners.

LEASE AGREEMENTS

Courtesy of Granite Properties

Granite Park Lecture Hall 6

Aviation services provider Atlantic Aviation has leased an entire floor of nearly 27,000 square feet at Granite Park 6 in Plano, according to a news release from Granite Properties and Highwoods Properties. Granite was represented by Robert Jimenez, Burson Holman and Elizabeth Fortado of the firm, while Atlantic Aviation was represented by Ryan Hoopes and Tom Sutherland of Cushman & Wakefield.

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Building materials company Fibergrate Structures is moving its headquarters to the 102,000-square-foot FarmWorks One office building at The Farm at Allen next year, developer JaRyCo Development announced. Mac Morse, Jake Younger and Scott Morse of Citadel Partners represented Fibergrate. Nathan Durham and Duane Hendley of Newmark represented FarmWorks One.

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Owens Corning has leased nearly 293,000 square feet at Core45 in Wilmer in southeast Dallas County. Ridley Culp, Luke Davis and Matt Dornak of Stream Realty Partners represented the landlord, Grandview Partners, and CBRE represented the tenant.

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IBM has renewed its lease for 70K SF at Plano Parkway/190 Business Center in Plano. Ryan Wolcott and James Mantzuranis of Stream Realty Partners represented the landlord, Barings. Cushman & Wakefield represented IBM.

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SiriusXM renewed its lease for 58,000 square feet at Freeport III in Irving. Tim Terrell and Rhett Miller of Stream Realty Partners represented the landlord, while Ryan Buchanan of CBRE represented the tenant.

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Kilpatrick Townsend & Stockton renewed its lease for nearly 22,000 square feet at the Trammell Crow Center in Dallas. Chase Lopez and Marissa Parkin of Stream Realty Partners represented the landlord. Samuel Hollis Jr. and Matt Heidelbaugh of Cushman & Wakefield represented the tenant.

CONSTRUCTION AND DEVELOPMENT

Holt Lunsford Commercial Investments has broken ground on the Class A Denton Point III, IV and V industrial park. The nearly 452,000-square-foot project will consist of three shallow-bay industrial buildings and is expected to be completed in the third quarter of next year. The project is a joint venture between Holt Lunsford and Dallas-based Silverado Interests. Construction financing was arranged by JLL Capital Markets.

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Courtesy of the city of Celina

Celina City Centre

Celina officials have announced plans for a 115,000-square-foot Downtown Center project that will include a four-story, 25,000-square-foot parking garage. The Downtown Center will house city operations, a 26,000-square-foot library and a rooftop community space. Work on the parking garage is expected to begin in the fall, with construction expected to be completed next year and groundbreaking for the Downtown Center. Construction on the Downtown Center is expected to be completed by the end of 2026. General contractor Swinerton is overseeing construction.

FINANCING

Courtesy of Billingsley Co.

Denton Distribution Center

JLL Capital Markets secured the refinancing of a Class A industrial park in Denton. The Denton distribution center, which is fully leased, consists of two cross-dock industrial assets of 451,000 square feet and 448,000 square feet. JLL represented Billingsley Co. in securing a fixed-rate loan that refinanced construction debt. Campbell Roche, Kristi Leonard, Jordan Buck and Aaron Craig of JLL worked on the transaction.

THIS AND THAT

Ryan, a Dallas-based provider of tax services and software, has acquired Property Tax Advisors LLC. The Virginia-based tax advisory firm was founded by CEO Michael Donohue.