Office-to-Industrial Conversions in Dallas Market
An Orlando company is putting the pedal to the metal on office-to-industrial conversions in the Dallas market.
Earlier this week, Foundry Commercial announced it acquired 4250 N. Belt Line Road in Irving.
The 7-acre property includes a vacant 45,000-square-foot office building constructed in 1981. Partial funding for the acquisition was provided by Crow Holdings Capital.
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Conversion Plans
Foundry, which has offices locally in Oak Lawn, plans to demolish the existing building on the site to construct a 120,000-square-foot industrial facility with 32-foot clearing heights.
Construction is scheduled to begin in September 2025, with completion expected in summer 2026.
Company’s Experience in Office-to-Industrial Conversions
This will be Foundry’s fifth office-to-industrial conversion in the Dallas-Fort Worth market and tenth nationally. Last year, the company revealed plans to convert multiple properties in Plano.
In 2023, the company purchased a 24-acre property in Irving with plans to replace the two-story office on the site with a three-building, 337,000-square-foot industrial park.
Market Demand
“We continue to see meaningful momentum behind the trend of converting outdated office sites into modern industrial product,” said Jim Traynor, partner and managing director with Foundry, in a statement. “This approach helps meet strong demand from logistics and manufacturing users who want to be closer to labor, rooftops, and major transportation corridors.”
The firm said its investment strategy is focused on repositioning underutilized sites in infill locations.
Challenges in Irving
Traynor explained there is strong demand for Class A industrial space in Irving, but that a limited amount of industrially zoned land has constrained new development.
“As a result, we’re repurposing underutilized office buildings to accommodate the growing need for modern warehouse facilities,” he said in a statement to The Dallas Morning News.
Location Benefits
The company noted that the property’s location east of DFW International Airport is in one of the most active industrial markets in the metro.
Leasing Responsibilities
Andrew Gilbert and Keaton Bryce of Holt Lunsford Commercial will undertake leasing responsibilities for the project.
Past Deals
Earlier this year, Foundry and Holt Lunsford brokered the sale of The News’ 620,000-square-foot printing facility in Plano in a $43.5 million deal.
Conclusion
In conclusion, Foundry Commercial’s acquisition of 4250 N. Belt Line Road in Irving is a significant move in the company’s strategy to convert outdated office sites into modern industrial facilities. The demand for Class A industrial space in Irving is strong, and the company’s approach to repurposing underutilized office buildings will help meet this demand. With construction scheduled to begin in September 2025, the project is expected to be completed in summer 2026, providing a much-needed boost to the industrial market in the metro.
Frequently Asked Questions
Q: What is the location of the acquired property?
A: The 7-acre property is located at 4250 N. Belt Line Road in Irving.
Q: What are the plans for the existing building on the site?
A: The existing building will be demolished to make way for a 120,000-square-foot industrial facility with 32-foot clearing heights.
Q: When is construction expected to begin and end?
A: Construction is scheduled to begin in September 2025 and is expected to be completed in summer 2026.
Q: What is the company’s experience in office-to-industrial conversions?
A: This will be Foundry’s fifth office-to-industrial conversion in the Dallas-Fort Worth market and tenth nationally.
Q: Who will undertake leasing responsibilities for the project?
A: Andrew Gilbert and Keaton Bryce of Holt Lunsford Commercial will undertake leasing responsibilities for the project.
