A Fort Worth developer is repurposing an old industrial complex northwest of downtown Dallas.
In April, M2G Ventures bought the six-building Commonwealth Business Park on Irving Boulevard between the Dallas Design District and the medical district.
The almost 113,000-square-foot industrial campus off Stemmons Highway was built in 1980 and houses a variety of business tenants.
M2G Ventures plans to renovate the buildings, which it has renamed Archetype. The new owner’s improvements will include major capital improvements, including storefront improvements, graphics, landscaping, lighting and public art installations.
The properties will be marketed as urban industrial space for logistics, showroom, medical and e-commerce tenants.
“There is tremendous opportunity for this project, so we wanted the identity and name of the project to capture our innovative approach to redevelopment,” Jessica Essl Miller, co-founder of M2G Ventures, said in a statement. “Archetype’s re-branding reflects its unique personality and evokes a sense of connection among tenants while creating differentiation in the marketplace.”
The largest vacancy in the complex is a 25,000-square-foot space that M2G Ventures is offering to prospective tenants for a brewery, distillery, coffee roaster and showroom.
“We want to create the ideal space for thriving tenants,” Amy Castellanos of M2G Ventures said in a statement. “We think we’re doing that with art infusions, new landscaping, the addition of wayfinding and signage, along with improved storefronts and exterior lighting.
“Add its ideal location and easy access to DFW’s most affluent and densely populated areas, and we believe we are truly creating a place users want to be.”
The project is M2G Ventures’ second redevelopment in the area. Last year the company purchased a 250,000-square-foot office and industrial property at 3200 Irving Blvd. The redevelopment of that 1960s industrial complex was done in partnership with Austin-based Pennybacker Capital.
M2G Ventures also owns two other office and warehouse buildings across from its The Archetype project.
The properties M2G has purchased are in the same area of Dallas as the new $350 million Pegasus Park medical and life science campus on Stemmons Highway.
In the past two years, the property firm acquired and redeveloped more than 2.6 million square feet of real estate valued at more than $230 million.