Fort Worth-based commercial real estate investment and development firm M2G Ventures recently announced the acquisition of a six-building business park in Lewisville, TX. The purchase was made in partnership with Austin-based Evergen Equity and included Lewisville 121, a multi-tenant industrial park located on about 11 acres in the Dallas suburb.
Built between 1991 and 2007, the property incorporates more than 180,000 square feet of north Dallas industrial space that was reportedly 96% leased at the time of sale. Mac Hall of Stream Realty Partners will lead the leasing efforts for the remaining available space.
Meanwhile, the new owner’s planned project improvements include canopy modifications, exterior paint and lighting improvements, landscape upgrades, and the addition of monument signage.
The property includes three buildings at 1590 East State Highway 121 and three buildings at 1620 East State Highway 121. Lewisville 121 is a mix of both concrete and masonry construction and features 19- to 33-foot clear heights, partial HVAC, and ample parking.
“M2G strives to create places where users want to be,” said Jessica Miller Essl, co-founder of M2G Ventures. “As we look ahead to 2025, M2G continues to focus on its primary investment strategies of acquiring, designing, and developing infill industrial and mixed-use assets in supply-constrained locations. We are excited to add this project to our portfolio.”
“The property, just off Highway 121, is in a dynamic, highly visible location providing strong connectivity to I-35 and the Dallas North Tollway,” said M2G Principal, Brett Zimmerman. “With a variety of suite sizes and configurations, Lewisville 121 is well positioned to capitalize on the growth occurring in Dallas’ northern suburbs.”
The Dallas-Fort Worth industrial market had the ninth-largest pipeline at the close of 2024, with a little more than 19 million square feet new space under construction. Notably, this marked an increase from the 17 million square feet in development in Q3 — a rare occurrence among the top markets analyzed in the Q4 2024 national industrial report.
At the same time, DFW was among the top 10 U.S. industrial markets to see rent growth over the previous 12 months, with the average asking rate here going from $5.8 per square foot in December 2023 to $6.3 per square foot in December 2024.
Looking for industrial space for rent in Dallas or other growing markets? Visit the CommercialCafe.com home page to stat your search!
