News
Dallas, Texas (Feb. 20, 2026) – Foundry Commercial’s Development & Investments (D&I) platform, in partnership with DWS Group, has closed on the acquisition of a 52-acre infill site near Dallas-Fort Worth International Airport, marking the firm’s latest office-to-industrial conversion project in the region. The acquisition represents one of the largest and most complex office-to-industrial redevelopments Foundry has executed to date, involving a highly accelerated transaction timeline and coordinated effort across multiple internal disciplines to bring the deal to closing. The project, known as Horizon II, is located directly across the street from Foundry’s Horizon Landing development.
The former State Farm Insurance campus includes four existing office buildings constructed in 2005, totaling approximately 635,000 square feet. Foundry moved quickly to secure the industrial-zoned site, leveraging its deep experience in large-scale industrial redevelopment and its proven track record in the immediate submarket. Foundry plans to demolish the on-site structures and redevelop the site into modern, Class-A industrial facilities designed to meet sustained tenant demand for infill warehouse space near the airport.
Horizon II represents Foundry’s seventh office-to-industrial conversion in the Dallas-Fort Worth market and thirteenth nationally, repurposing 2.6 million square feet of office developments into nearly 4 million square feet of industrial. For DWS, the project highlights its partnership with Foundry and a shared approach to executing large-scale, complex repositioning projects, enabled by Foundry’s fully integrated platform and ability to deliver under compressed timelines.
“The ability to acquire 52 acres, fee simple, directly adjacent to DFW Airport represents a rare opportunity to deliver Class-A industrial space at meaningful scale,” said Jim Traynor, Managing Director of Development & Investments for Foundry Commercial in Dallas. “As an infill submarket, Airport North offers very limited opportunities for new Class-A development, yet continues to experience strong tenant demand. We’re excited to leverage our experience redeveloping underutilized assets to create significant long-term value for the market.”
In the first phase of development, Foundry and DWS plan to deliver 435,000 square feet across three warehouse buildings, with demolition expected to begin in the second quarter of 2026 and completion anticipated in 2027. The site is expected to ultimately support up to approximately 900,000 square feet of industrial space across multiple phases. No timeline has been established for the second phase.
“This project reflects our continued conviction in industrial conversion opportunities that align location, scale, and long-term fundamentals. We believe infill industrial remains one of the most durable asset types nationally, particularly in markets like Dallas-Fort Worth, where land constraints and tenant demand continue to intersect,” said Pryse Elam, President of Development & Investments for Foundry Commercial. “Horizon II also demonstrates the strength of our integrated platform, allowing us to move with speed and certainty on opportunities that require both technical expertise and disciplined execution.”
Michael Nigro, Chief Investment Officer, Americas and Head of Value Add & Development for DWS Group added: “We are excited to partner with Foundry Commercial on Horizon II. This partnership and project continues DWS’s strategy of developing and owning best-in-class industrial real estate in infill markets with strong fundamentals.”
Construction partners on the project include The Conlan Company as general contractor, Pross Design Group as architect, and Langan Engineering as civil engineer.