Telecom Corridor campus gets multi-million dollar redo to attract new business

06/01/2016
 
Photo Credit: Avison Young
 
 
By Steve Brown

Real Estate Editor | Dallas Morning News 

 
One of the last vacant buildings in Richardson’s booming Telecom Corridor is getting a major redo with plans to attract new business.
 
The 2323 Central office building on U.S. Highway 75 previously housed offices for watch and accessories firm Fossil. Since 2011, it’s been owned by real estate developer KDC, which built Fossil’s new headquarters on Spring Valley Road.
 
Now KDC is spending $5 million to gut and remodel the 3-story, 136,000-square-foot 2323 Central building.
 
“KDC is making significant modifications and upgrades to both the exterior façade, structure, all interior finishes and adding new mechanical systems at our 2323 North Central building,” said executive vice president Don
Mills. “Our development goal is to create a new feel and quality, and create an appealing office building for corporate groups focused on a Telecom Corridor address.
 
“We are adding a new entry drive from the new Galatyn Parkway extension, which will greatly improve access to the building,” he said. “Also, by redesigning and transforming the atrium, our building’s rentable area will be increased by 10 percent to 136,000 square feet.”
 
Avison Young is marketing the building to multiple or single office tenants, said principal Dale Ray.
 
The development site, just south of Galatyn Parkway, includes land for construction of up to 500,000 square feet of additional parking space.
 
Only about 14 percent of the Telecom Corridor’s office space is vacant — down from almost 22 percent a year ago. During the first quarter, expanding and relocating tenants accounted for almost 400,000 square feet of net leasing in the Telecom Corridor.
 
To read this article on The Dallas Morning News website, click here.
connect with us