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Texas  + Dallas-Fort Worth  + Industrial  | 

Dilweg Expands Into Texas with Purchase of Royal Tech Business Park

Dilweg, a North Carolina-based real estate investment firm with 5.5 million square feet of assets under management in the Southeast, has acquired the Royal Tech Business Park, an 11-building facility located at 3201 W Royal Lane in Irving, TX. This is Dilweg’s first acquisition in Texas.

Dilweg plans to rename the facility to Royal Tech Commons, which is located between Dallas and Fort Worth. Royal Tech Commons consists of 11 single-story buildings totaling approximately 622,000 square feet, which feature office, lab, and warehouse space plus a 9.2-acre vacant land parcel adjacent to I-635.

As part of the repositioning planned for the property, Dilweg plans to implement numerous capital improvements as part of a strategic rebranding campaign that will include new outdoor amenity spaces, modern building signage, contemporary wayfinding throughout, new landscaping, roof replacements, HVAC improvements, and parking lot upgrades.

JLL ’s Chris Wright and Russ Johnson represent Dilweg for future leasing efforts. CBRE’s Randy Baird, Patrick Benoist, Jonathan Bryan, Jared Chua, Michael Dewey, and Russell Ingrum represented the seller. The transaction amount was not disclosed.

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About Erik Hamilton

Erik Hamilton, who has more than 15 years in CRE journalism, is a former staff writer with the Los Angeles Times and the Orange County Business Journal. In addition to The Times and the OCBJ, he was also a reporter and editor for Crittenden Research, The San Bernardino Sun and UPI. Erik also worked six years in CRE public relations with Los Angeles-based Hoyt Organization, where he was a Senior Account Executive. He later joined Lee & Associates where he served as the Director of Corporate Communications. There ,in addition to his work with Lee’s CEO, he managed 57 offices nationwide and provided PR, social media and media training for the offices. A graduate of UC Irvine, with a BA in history, he is an avid record collector where he continues to search for a rare Joy Division single.

  • ◦Sale/Acquisition