News
Irving, Texas (March 16, 2026) – Office demolition-to-industrial redevelopments continue to gain momentum across the Sun Belt as investors tear down obsolete office properties to build back modern logistics space near major population centers. Foundry Commercial is continuing to capitalize on that shift with the closing of the Ridgepoint industrial development site in Irving, where an outdated office building will soon be replaced with a new 110,000-square-foot industrial facility in a highly desirable infill location. Demolition of the existing structure is expected to begin this month.
Ridgepoint represents Foundry’s tenth office demo-to-industrial conversion nationally, continuing a strategy that transforms aging office properties into modern industrial product positioned closer to transportation infrastructure and population growth.
“Many of the best infill sites today weren’t originally developed for industrial use,” said Jim Traynor, Managing Director, Development & Investments for Foundry Commercial. “What we’re doing with these projects is identifying well-located properties that have outlived their original purpose and reimagining them into something far more productive for the market.”
Across its Development & Investments platform, Foundry has demolished 25 office buildings totaling approximately 2.6 million square feet and is replacing them with roughly 4 million square feet of new industrial development. Because these projects repurpose existing office sites, they are typically located in supply-constrained infill markets that are difficult to replicate through traditional industrial development.
The acquisition represents another example of how Foundry continues to identify opportunities where shifting market dynamics create value through redevelopment and strategic repositioning. With capabilities spanning investment management, development, and brokerage services, the firm is uniquely positioned to source and execute projects that transform underutilized real estate into assets aligned with today’s demand drivers.
Said Austin Maddux, Partner and Executive Managing Director of Foundry Investment Management, “We continue to see compelling opportunities where evolving market conditions allow us to acquire well-located properties and reposition them into product types that better match today’s demand. What makes these projects particularly attractive is the ability to combine insights from across our platform – from brokerage to development – to identify opportunities that might otherwise be overlooked and deliver differentiated investments for our partners.”
With this closing, Foundry’s Dallas team has now completed six conversions in the market, with another expected to close in the coming months. The Ridgepoint project also sits near two other office-to-industrial redevelopments led by Foundry – Horizon Landing and Horizon II – further illustrating the firm’s ongoing repositioning of underutilized office sites in the Dallas–Fort Worth Airport submarket. When complete, the Dallas portfolio will replace 14 office buildings totaling 1.6 million square feet with more than 2.1 million square feet of new industrial development.