NHK Capital Partners Completes Sale of 121 Technology Park to Meritex

The four-building industrial development was completed in partnership with Stillwater Capital

NHK Capital Partners (NHK), a Hogan Family Company, announced the sale of 121 Technology Park in Allen, Texas, to The Meritex Company (Meritex). The transaction follows the completion and lease-up of the project’s first phase.

Located on a 58-acre site along State Highway 121 near U.S. Highway 75, the park’s first phase comprises four Class A industrial buildings totaling approximately 371,000 square feet. The buildings were designed to accommodate technology, manufacturing, distribution, and other light industrial businesses.

“The appeal of the 121 corridor was the convergence of business investment, workforce talent, and regional connectivity, fundamentals that support industrial demand,” said Noreen Hogan, Principal at NHK. “We saw an opportunity to capitalize on that growth through a flexible Class A campus suited to a broad range of tenants. The sale to Meritex reflects institutional appetite for industrial assets in growing Texas markets and the quality of the project we delivered with our developer partners.”

Minneapolis-based Meritex acquired the property in conjunction with Meritex Industrial Fund V. An established industrial real estate investment and management firm, Meritex owns and manages approximately 15 million square feet across nine major U.S. markets.

The sale adds an industrial exit to NHK’s track record of identifying institutional-quality commercial real estate opportunities and executing successful dispositions. NHK and Stillwater Capital are currently collaborating on Travis South Industrial, a Class A industrial development in the Austin market.

Founded in 2019, NHK has raised over $194 million for investments spanning build-to-rent communities, multifamily, student housing, industrial, hospitality, and office.

For more information, contact info@nhkcapitalpartners.com.