Dilweg, a leading real estate investment firm with 5.5 million square feet of assets under management in the Southeast, announces its first acquisition in Texas, increasing its reach across the Sunbelt. Dilweg has acquired 11 buildings commonly known as Royal Tech Business Park in Irving, Texas, which it plans to rename Royal Tech Commons as part of an overall creative repositioning strategy. Centrally located in Irving, TX, 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.
Royal Tech Commons sits within Irving’s prestigious Las Colinas community. The property has surface parking and customizable suites ranging from 1,000–75,000 square feet. In addition, Royal Tech Commons has direct access to Dart’s bus route service. Current notable tenants include Wells Fargo Bank, TekSystems Global Services, Coinmach Service Corp and Whataburger Restaurant Corp.
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.
