Deal Ticker: M2G Ventures Redeveloping Design District Property

Each week, D CEO Real Estate publishes the region’s top commercial real estate leases, sales, and new developments in its Deal Ticker. Submit your news via this online form.

New Development

Mixed-Use

After purchasing the property earlier this year, M2G Ventures is embarking on the redevelopment and repositioning of a 14-building site at the intersection of the Design District and West Brookhollow submarkets. The former Inwood Design Center at 1110 Inwood Road in Dallas comprises 740,000 square feet and will undergo two identity presentations during the rebranding. The Inwood Design District (IDD, 630,000 square feet) will include light showroom and industrial, while Ace on Inwood (Ace, 109,233 square feet) will include retail and restaurant. The two outlets are expected to operate “independently but harmoniously.” Completion is expected for the end of this year. Redevelopment includes upgrading facades and storefronts, enhanced parking, layered landscaping, and unexpected art installations. 

Retail

Harmony Bank has broken ground on a new branch in Dallas’ Medical District. The development is the company’s first ground-up build since merging with Texas Grand Bank and acquiring First State Bank of Rice. The location is expected to open in 2026.

Leadership

Karla Smith has been named co-market Leader for SRS Real Estate Partners’ Dallas office. Smith will join Ryan Johnson at the helm of the office as the company focuses on growth strategy in both DFW and Texas. Smith joined SRS five years ago and has been recognized as a top producer. She’s served on the company board since 2021 and helped ignite SRS’ platform for women in brokerage, dubbed SOAR. “In addition to being one of the most accomplished producers in the DFW market, Karla is a next-level leader whose performance consistently sets the standard across the industry,” SRS President Garrett Colburn said.

Uptown Dallas Inc. has a new executive director. Kelem Butts, a 24-year Uptown resident, previously worked at AT&T on national philanthropic and educational efforts. His first day on the job is July 1. “As we reviewed candidates for this position, it became clear that Kelem’s career experience, his board credentials, and his love for Uptown made him the perfect candidate,” said Ramsey March, chairman of Uptown Dallas Inc. and executive managing director at Stream Realty. “He starts at an exciting time for the district and will play a key role in finishing out and opening our recently announced Safety Headquarters, which is located at the southern end of Uptown.”

Foundry Commercial has added to its ranks by hiring Cynthia Cowen as senior vice president for the company’s Mission Property Group in Dallas. Cowen’s resume includes work on projects like Hall Park in Frisco, Frisco Station, and One Victory Park. She was most recently a managing director at Cushman & Wakefield. She’s been active in the Dallas chapter of CREW (Commercial Real Estate Women) for over 25 years. “Cynthia brings not only a wealth of experience, but also a deep desire to do something meaningful with the next chapter of her career,” said Matt Messier, who leads Foundry’s Mission Property Group.

Deke Schultze has joined Transwestern Investment Group as senior managing director over capital formation. Schultze was most recently a client portfolio manager on Lionstone Investment’s capital formation team. He was also previously a principal at Rubenstein Partners and an SVP at Clarion Partners. 

CannonDesign has hired Loretta Fulvio as sports market leader for its Dallas office. Fulvio has worked on a number of signature projects with leading teams and sports owners, including AT&T Stadium in Arlington, U.S. Bank Stadium in Minneapolis, and Lucas Oil Stadium in Indianapolis. Her track record includes stints at HOK and HKS. 

Edge Realty Partners has added Vice President Hunter Hayes to its Dallas team. Hayes will focus on unanchored strip centers, leveraging market knowledge within DFW and particularly Tarrant County. Hayes’ career most recently included a nine-year stop at NAI Robert Lynn. In total, he’s completed more than 225 transactions totaling over 1.4 million square feet of leased retail space. 

Leases

Office 

Asset Living has renewed its lease for 13,168 square feet at 15601 Dallas Parkway in Addison. Partners Real Estates’ Dan Boyles, with assistance from Jeremy Brubaker and Justin Utay, represented the tenant in lease negotiations. The landlord, FSP Addison Circle, was represented by Chris Taylor of Cushman & Wakefield and Trey Smith of CBRE. 

Retail

Behavioral Innovations, a therapy outlet for children with autism, has leased 5,891 square feet from SLX Capital at 401 Alta Mere Drive in Fort Worth. DBA Commercial Real Estate’s Evan English represented the landlord, while the tenant was represented by Lee Wagner and Campbell Drennan at Site Selection Group. 

Industrial

FedEx Ground Package System renewed its lease of 186,577 square feet at Carter Distribution Center in Fort Worth. Thomas Eddins with Fischer & Co. represented the tenant. Matt Carthey and Thomas Grafton with Holt Lunsford Commercial represented the landlord, PGIM.

Sale

Industrial

New York-based Mapletree Investments has sold a 1.8 million-square-foot industrial portfolio to New Jersey-based Faropoint for $328 million. That includes properties across the country, including three DFW properties totaling 257,832 square feet. The properties are 14271 and 14281 Welch Road in Farmers Branch, as well as 1720-1750 Hurd Drive in Irving. The deal marks Mapletree’s first major US warehouse divestment and Faropoint’s largest acquisition in firm history. JLL’s John E. Huguenard and Trent Agnew represented the seller.