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The Investment At Irving Business Park Was Made Possible By A North Carolina-Based Businessman And Entrepreneur

Dilweg’s first purchase in Texas was a collection of buildings in the city of San Antonio’s Las Colinas neighborhood.

Dilweg Inc., a North Carolina-based investor, played a key role in making the purchase of an 11-building business park in Irving a feasible proposition.

When Dilweg made an investment in the Royal Tech Business Park, which is comprised of buildings along I-635 and contains more than 620,000 square feet of space, he was able to expand his portfolio of properties. A firm news release states that this is the corporation’s first acquisition in the state of Texas’s northernmost portion (North Texas).

There is a varied mix of tenants housed in the office, research, and warehouse buildings in the area surrounding Regent Boulevard. These tenants include Wells Fargo Bank, TekSystems Global Services, Coinmach Service Corporation, and Whataburger Restaurant Corporation, among many more.

According to Blake Underwood of Dilweg, single-story office space will play a big role in the future of our business, and the company is “actively exploring these opportunities.” In terms of the development’s size, Dilweg describes it as “exciting.” “Royal Tech Commons offers him the opportunity to influence and develop a unique and creative ecosystem for emerging and maturing enterprises in the Dallas-Fort Worth area, complete with walkable amenities and excellent connectivity to DFW International Airport and I-635,” he says of the development.

After being renamed Royal Tech Commons by its new owners, the property will undergo a significant transformation, which will include the creation of new outdoor spaces, the installation of building signs, the creation of new landscaped areas, the repair of roofs, and the restoration of mechanical systems, among other enhancements.

The construction work was completed throughout the 1980s and 1990s, during the period of the Soviet Union’s disintegration. There were around 9 acres of undeveloped land in the region that was purchased by the company.

The property was sold by PS Business Parks, which was in charge of the transaction.

Chris Wright and Russ Johnson of Jones Lang LaSalle are responsible for the sales of the properties to tenants, and they collaborate on the task of finding tenants.

Several CBRE Group experts were involved in the deal, including Randy Baird, Patrick Benoist, Jonathan Bryan, Jacqueline Chua, Michael Dewey, and Russell Ingrum. Randy Baird was the transaction’s lead broker.

Dilweg’s entry into the Dallas-Fort Worth market and efforts to construct improved surroundings that meet the needs of today’s tenants are exciting to JLL’s Johnson. “We are excited to partner with Dilweg as they seek to improve surroundings that meet the requirements of today’s tenants,” Johnson says. “We’re looking forward to working with them,” said the team.

A real estate investment company based in the Sunbelt with interests totaling 5.5 million square feet scattered throughout the region, Dilweg is a leader in the industry. In addition to Durham, Atlanta, Charlotte, and Tampa as well as a few other locations, the corporation maintains offices in a number of other cities.

Commercial real estate investment in the Dallas-Fort Worth metroplex is expected to be the most active in the United States in 2021, with transactions in the region expected to total $47 billion in that year.

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