Project News / Industrial
Meritex Plans Three New Industrial Buildings in Allen, Texas
The 58-acre industrial park on SH 121 has four buildings totaling about 371,000 square feet, with a second phase set to bring it to about 740,000 square feet.
NHK Capital Partners has completed the sale of 121 Technology Park in Allen to The Meritex Company and Meritex Industrial Fund V, the companies announced Nov. 9. The 58-acre business park at 859 SH 121, near US 75, includes four Class A buildings totaling about 371,000 square feet. The purchase price was not disclosed.
The park was developed by NHK Capital Partners, a Hogan Family Company, with Stillwater Capital. Meritex first announced the acquisition on Oct. 1. The closing completes the transfer and clears the way for a second phase that Meritex plans to start in early 2027.
Three buildings planned for phase two
Phase two would add three buildings, bringing the park to about 740,000 square feet across seven buildings at full build-out. Building sizes, design firm and general contractor for the new phase have not been announced. The expansion would take Meritex's Dallas-Fort Worth portfolio to 1.6 million square feet. The company has about 15 million square feet across nine markets.
The existing buildings were about 55% leased as of October. Tenants include Amphenol Fiber Systems International, Acis, Comba, Globe Life and Xtera. Holt Lunsford Commercial has handled leasing for the park. The project was a finalist in the 2025 Best of NAIOP North Texas awards.
Partners and local context
The Allen Economic Development Corporation took part in the announcement, with Dan Bowman of the Allen EDC quoted alongside NHK's Noreen Hogan and Meritex's Ben Lieser and Drew Evans.
NHK and Stillwater Capital are also partners on Travis South Industrial in Austin. The Allen purchase was made together with Meritex Industrial Fund V.
Permitting and construction milestones
State accessibility registrations and local permits for the three proposed buildings are the next records to watch. They would help establish the individual scopes, estimated costs, design firms and construction schedules as the second phase advances.
The next milestones are the Phase 2 design and permitting process with the City of Allen, state registrations for the three new buildings, and the selection of a contractor ahead of the planned early 2027 start.
