One of Las Colinas’ most recognizable suburban office campuses is about to trade cubicles for loading docks.
Foundry Commercial and asset manager DWS Group have snapped up the 52-acre office property at 3950 Regent Boulevard in Irving, the former State Farm campus, and plan to knock down the low-rise buildings to make way for a massive logistics complex. The site will be rebuilt as more than 900,000 square feet of Class A warehouse space under a project branded Horizon II. Demolition is expected to begin later this year, with construction targeted for completion in 2027.
Terms of the land sale were not disclosed, but county records show DWS obtained a $49 million construction loan tied to the project. Foundry and DWS say the first phase will bring roughly 435,000 square feet across three industrial buildings and will be Foundry’s largest office-to-industrial conversion in the market. Those details, the Horizon II name and the roster of local design-build partners were reported by The Dallas Morning News.
How It Fits Into D-FW's Warehouse Binge
The deal drops right into the middle of Dallas-Fort Worth’s industrial hot streak. The region continues to lead national warehouse and distribution demand, with about 31.1 million square feet under construction at the end of 2025, a pipeline that keeps developers scouring the map for infill sites near Dallas-Fort Worth International Airport, according to Cushman & Wakefield.
That squeeze on well-located land is one big reason office demolition and conversion projects are accelerating. Foundry has already chased several similar redevelopments across the metro, including its Horizon Landing project right across the street, according to Foundry Commercial. By turning dated office campuses into logistics hubs, developers can deliver modern, large-format industrial space in areas where greenfield sites are scarce.
From Call Center to Cargo Hub
The four-building office complex opened in 2006 and at its peak held thousands of Citigroup employees, serving as one of the financial giant’s largest regional centers. State Farm stepped in later, leasing roughly 400,000 square feet of the campus in 2012. By 2025, the insurer had fully vacated the property, the developers told reporters, leaving a big, well-located hole in the Las Colinas landscape.
"It’s really one of the last opportunities we can see of scale right near DFW," Foundry’s Jim Traynor said, in an interview detailed by The Dallas Morning News.
What Neighbors Can Expect Next
Developers say the conversion will inject fresh distribution capacity into a prime corridor just minutes from DFW Airport. In the short term, neighbors can expect months of demolition work and a steady flow of construction vehicles and heavy truck traffic.
The Conlan Company is set to lead general contracting, with Pross Design Group and Langan Engineering handling design and civil work. The team aims to deliver the completed Horizon II campus in 2027.
Industry analysts have started referring to this type of office-to-industrial flip as a "new genre" of redevelopment, a label highlighted in recent coverage by CoStar. In Las Colinas, that genre is about to get a very visible new entry.
