A North Carolina investor that has acquired multiple North Texas properties has snapped up a Fort Worth development.
Asana Partners bought The Foundry District, a mixed-use project in Fort Worth’s Cultural District.
The 98,000-square-foot property was sold by Fort Worth developer and investor M2G Ventures. M2G Ventures purchased the property at 200 Carroll St. between 2015 and 2019 and converted the buildings into showrooms, offices and food and beverage spaces.
The redeveloped midcentury warehouses are anchored by Inspiration Alley, an outdoor art gallery.
“The Foundry District is a wonderful strategic fit for our portfolio of neighborhood mixed-use properties in dynamic locations. This project has a reputation for bringing the best that Fort Worth has to offer into one central location, including art, amenities and a compelling mix of local tenants,” Brad Kantrowitz, director at Asana Partners, said in a statement.
During the last few years, Asana Partners has bought 43 buildings in Dallas’ Deep Ellum district, more than 400,000 square feet of commercial space in Victory Park and The Hill shopping center in North Dallas.
Cushman & Wakefield’s Chris Harden and Kris Von Hohn brokered The Foundry sale.
“Asana Partners’ track record of investing in experiential destinations like The Foundry District makes them the ideal ownership group for this property,” Susan Gruppi, co-founder of M2G Ventures, said in a statement. “They share the vision we have for what had been an underutilized industrial pocket that is now a part of Fort Worth’s foundational culture.
“We look forward to watching them continue to invest in and build on the inspiring momentum of the district.”
M2G Ventures has a track record of repurposing older commercial properties.
The Fort Worth commercial property firm bought a 250,000-square-foot office and industrial property at 3200 Irving Blvd. in Dallas and renovated it into a business center called Proto Park.