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Hines Sells Off 740K-SF Dallas Light Industrial Space
M2G Ventures has purchased Inwood Design Center, a 14-building, 740,000-square-foot, mixed-use asset in Dallas including retail, showroom and light industrial space. Hines previously owned the park.
Commercial Edge reports Hines acquired the campus in 2019 from Vantage Cos., with plans at the time to reposition the property through a revamp of the building’s facade, signage, lighting and landscaping. Two years later, the park became subject to a $44 million note issued by AIG with a maturity date set for 2027.
M2G also plans to improve the park further. The buildings—completed between 1961 and 1978—were 93 percent leased at closing. Tenants include furniture retailer Crate & Barrel, logistics company White Glove Storage and Delivery, and 3PL firm Granimport USA.
Located on 38 acres at 1110 Inwood Road, the infill mixed-use property is less than 5 miles from downtown Dallas and roughly 15 miles southeast of the Dallas Fort Worth International Airport.
- ◦Sale/Acquisition