M2G’s PROOF is 72% Pre-Leased
M2G Ventures is finishing 2020 72% pre-leased on PROOF, a 40,665-square-foot building at 901 W. Vickery Blvd. in Fort Worth that it’s redeveloped.
“Despite the whirlwind of 2020, this coveted mixed-use project is 72% preleased, landing a corporate relocation, a boutique bowling concept, and one of the largest female-owned personal injury law firms in the country,” the firm said in an update. The building was built in 1926 by Adkins-Polk Whole Grocers, to serve the growing population of Fort Worth. In 2010, the building was sold to Firestone & Robertson Distilling, which converted it to a distillery.
M2G’s signed tenants include Bowlounge, a 15,000-square-foot retro bowling alley now open; Witherite Law Group, personal injury firm, already occupying 7,000 square feet; and the recently announced Trinity Real Estate Investment Services, which is relocating its corporate offices into a 6,500- square-foot space.
“Based on the high level of interest, M2G Ventures anticipates the remainder of the 12,000+ SF of available space to fill up quickly as the new year approaches,” the firm said.
“We’re thrilled to end this year with a big accomplishment through the renovation of PROOF,” said Jessica Miller Essl, co-president of M2G Ventures. “Our goal was to showcase the building’s 94 years of milestones while repurposing the design to create a modern-day mixed-use location. We’ve been able to exceed our expectations for this legacy asset and that’s a tall order.”
The building’s interior is a combination of earth tones, with brick, wood, stone, and metal textures and lofted ceilings, and big windows. “The exterior showcases prominent modern-day Brooklyn and mid-century Chicago styles of massive bricks, large original fire doors and expansive open air patio space,” M2G says.
“Repurposed artifacts also serve as art and fixtures both in and outside to balance the history and modernity inviting visitors to once again use and love this one-of-a-kind space.”
Elsewhere, in 2020, M2G’s projects include the $200 million redevelopment of Mule Alley in the historic Fort Worth Stockyards, where M2G is Mule Alley’s exclusive retail partner. Other 2020 projects include Bogart Dallas, North Quarter 35, The Foundry District, 710 South Main, OB MAC, and 2809 Shamrock. In the coming year, M2G predicted “more exciting acquisitions and announcements coming in Q1 2021.”
Stream Realty Partners is handling leasing of PROOF: Cullen Donohue, 817-877-1305, [email protected]; Vic Meyer, 817-877-1306, [email protected].
Sewell BMW Leases 252,400 Square Feet in Grapevine
Sewell BMW of Grapevine leased 252,400 square feet at 1717 W. Airfield Drive in Grapevine. Blake Kendrick, Jeremy Kelly & Sarah Ozanne with Stream Realty Partners represented the landlord, Clarion Partners. Ben Sumner with Centurion Real Estate Partners represented the tenant.
In another Stream deal, Hamilton Commercial LLC purchased 10.91 acres at 1550 South Great Southwest Parkway in Grand Prairie. Ryan Boozer & Luke Davis with Stream Realty Partners represented the seller, Austin International Ventures, Inc.
IPA Handles Sale of North Richland Hills Apartments
Institutional Property Advisors, a division of Marcus & Millichap, said it managed the sale of Dolce Living Home Town, a 316-unit apartment property in North Richland Hills.
“Dolce Living Home Town is a uniquely designed, newly constructed midrise multifamily asset in a high-growth Fort Worth suburb where for the past two years average occupancy has been 95.3%,” Drew Kile, IPA senior managing director, said in a release. Kile, Will Balthrope, Joey Tumminello and Grant Raymond represented the seller, DLC Residential, and procured the buyer, SPI Advisory.
“At closing, the asset was over 96% occupied with minimal concessions,” Tumminello said. “In a challenging environment, the differentiation of the asset and the quality control of the process led to a great result for both the buyer and the seller.”
Completed in two phases between 2016 and 2018, the apartment complex is at the north corner of Highway 183 and Loop 820, east of D/FW Airport. Dolce Living Home Town’s amenity package includes full-size washers and dryers in all units and Bluetooth speakers in the living rooms. The property has what it calls a “Vegas-style” pool, elevators, and a dog park. The average unit size is 961 square feet.
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