The momentum continues in Richardson: new tech companies, CityLine update

09/08/2014

As we round the corner and head for home in 2014, the activity and excitement in Richardson has never been greater.

 

State Farm’s local employment has already hit the 4,000 mark, and early next year the company will begin to occupy its gleaming new campus at CityLine. Soon thereafter, a new Aloft hotel, Whole Foods grocery and a host of new restaurants will be popping up in what will soon be one of Collin County’s premier live-work-play environments.

 

Since many consider Legacy Town Center as the gold standard for mixed use in Dallas-Fort Worth, it’s interesting to see how the two developments might compare at build-out:

 

 


 
 

Feature

CityLine

Legacy TC

Year Started

2013

1999

Acreage

186

168

Office SF

6.0 million SF

6.5 million SF

Retail

300,000 SF

600,000 SF

Hotels

2

1

Apartments

4,000

3,600

DART

Yes

No

Live/Work Population

30,000

50,000

Parks

3

1

 

 

While Legacy has the edge on retail space, CityLine’s DART station and three parks give it  the benefits of accessibility and open venues for public performances and outdoor activities. While the magnitude of both developments is expansive, each will have its own distinctive character.

 

Over on the northeast side of CityLine, Raytheon’s 1,700-employee, 489,000 square-foot campus is well underway with anticipated occupancy sometime late next year.

 

There are still some choice sites on the George Bush Turnpike located west of the CityLine development, and expect to see some future announcements on projects planned for that area.

 

In addition to the two large campus projects, Richardson has seen quite a bit of recent expansion and relocation activity from technology-based companies:

 

Connectivity Wireless designs and builds in-building wireless systems. Its notable projects include the Texas Motor Speedway, the George W. Bush Presidential Library and all Baylor hospitals.

 

NetPower Technologies builds direct current to direct current power converters. The company is a great complement to all the electronic systems that are engineered and assembled in Richardson.

 

MedeAnalytics, a fast-growing IT company headquartered in Emeryville, CA, is moving its Dallas operations and about 100 employees to Richardson. The company provides Big Data and Business Intelligence services to many of the major healthcare-related organizations in the US, including Blue Cross, Methodist, Mayo Clinic and Shriners Hospitals. The company receives 10,000 daily data feeds from over 75 healthcare data systems and manages over 280 terabytes of data containing the treatment histories of over 30 million healthcare receivers. REDP’s expedited permitting helped facilitate the move to 18,235 SF at Custer Court, 501 N. President George Bush Turnpike by November 1.

 

With the cool breezes of fall on the way, there is still plenty to look forward to in 2014. State Farm’s gradual de-occupancy of the nearly 1.5 million SF it holds under short term leases will create opportunities for the next wave of companies seeking the advantages of a Richardson location. Retailers are scrambling to find strategic spots at CityLine and elsewhere as Richardson’s employment density ratchets up, and multi-family housing developers are hustling to find any tracts of land that have the right zoning. 


2014 Richardson Expansions, Relocations and Start-Ups
# DateCompanyClusterBusiness Type From Occ. Address Square Feet Type Space Jobs Broker 
1 1/6/2014HBS SystemsSoftwareAgriculture & industrial equipment industries Relocation Richardson Lease 3400 Waterview #200 24,000 Office 60 Daniel Rudd
NGKF 
2 1/13/2014PHA Consulting Engineers, Inc.HT-otherConsulting engineersRelocationRichardsonLease1101 E. Arapaho, Ste 1305,162Office20 Kent Smith, NAI Robert Lynn 
2/14/2014 State Farm FIRE Property insurance Relocation Bloomington, IL Lease CityLine 500,000 Office 2,300 R. Cooper, C. Wilson, Cassidy Turley 
2/18/2014 Image Technology Systems Software Develop software for lodging facility management Relocation Plano Buy 2209 N. Collins 11,810 Flex 35 None 
3/24/14 ZTE Telecom Mobile handset manufacturers Renewal Richardson Lease 2425 NCX 45,000 Office 120 Rachel Brown, JLL 
3/25/2014Prodea HT-other Home digital entertainment platform Renewal Richardson Lease 2434 NCX #500 13,000 Office 70 None 
3/26/2014 Raytheon HT-other Information and intelligence services Relocation Garland Build CityLine 489,000 Office 1,700 B. Selner, S. Holley, JLL 
5/29/2014 Custom Credit Solutions Software Credit application forms for lenders Expansion Richardson Lease 801 E. Campbell 15,000 Office 15 Kent Smith, NAI Robert Lynn 
6/4/2014 Hyundai-DigiTech Telecom Mobile phone repair and service Expansion Richardson Lease 1299 Commerce 20,000 Flex 50 Justin Jordan
Carey Cox 
10 6/11/2014 XPS Solutions FIRE Property management for self-storage facilities Expansion Richardson Lease 2703 NCX 18,399 Office 100 Dave Petersen
NAI Robert Lynn 
11 6/18/2014 Divercety HT-other Design engineeringRelocation Carrollton Lease 1200 N. Bowser 15,000 Flex 20 None
12 6/18/2014 Intelang Software Next-gen Internet search engine software Relocation Richardson Lease WND7,000Flex 10 Janice Peters, Hudson Peters 
13 7/1/2014 Delta Greentech HT-other Makes power equipment systems, like UPS Renewal Richardson Lease 2360 Campbell #530 9,000 Flex 18 None 
14 7/15/2014 Connectivity Wireless HT-other Install In-building wireless systems Renewal Richardson Lease 630 International #100 7,850 Flex 45 None
15 7/25/2014 NetPower Technologies HT-other DC/DC power conversion Expansion Richardson Lease 1680 N. Prospect 13,896 Flex 40 Ric Kanatzer, Studley 
16 8/11/2014 MedeAnalytics HT-other Analysis of big data for healthcare industry Relocation Dallas Lease 501 N. PGBT 18,235 Office 100 John Roper, CBRE 
             
 Totals       1,212,352  4,703 
 
connect with us