Meritex Buys Allen Technology Park, Targets 2027 Expansion

October 3, 2026 - 08:17

Meritex has acquired 121 Technology Park in Allen, a 58 acre industrial site, as the Minneapolis based real estate firm continues to grow its holdings in the Dallas Fort Worth market. The company confirmed the purchase but did not disclose the financial terms of the deal.

The property sits in a corridor that has drawn steady interest from logistics, manufacturing, and technology tenants over the past several years. Allen has positioned itself as a destination for companies looking for modern industrial space with access to major highways and a skilled local workforce.

Meritex said it intends to move forward with a second phase of development at the site in 2027. That phase would add new industrial buildings to the existing park, though the company has not yet released details on square footage, building specifications, or a construction timeline.

The acquisition fits a broader pattern of industrial real estate firms competing for land in fast growing North Texas suburbs. Demand for warehouse and flex space has remained strong even as some other commercial property sectors have cooled, and developers have rushed to secure sites before available parcels become scarce.

For Allen, the project could mean additional tax revenue and job growth once the expansion is complete. City officials have generally welcomed industrial development in designated areas, balancing it against residential growth elsewhere in the community.

Meritex has not said when it will begin site work for the second phase or whether it has signed any tenants for the planned buildings. More information is expected as the 2027 target approaches.