2014 was another banner year for Richardson with 33 relocation or expansion projects, over 5,000 new or retained jobs, and office leasing that topped 1.4 million SF. Left to right: Raytheon construction, State Farm fourth building construction at CityLine
Major development projects for the year included State Farm’s fourth new building with 500,000 SF and adding another 2,300 jobs, bringing the total State Farm campus to 2 million SF with over 9,000 jobs, and Raytheon’s Information and Intelligence Service campus adding 489,000 SF and 1,700 relocating jobs.
Other lease additions of 20,000+ SF include:
- Polytronix, an innovator in the design, manufacturing and marketing of liquid crystal displays added 40,000 SF and now occupies 3 buildings
- Inogen, a California-based company that manufactures and markets portable oxygen equipment, added 25,000 SF to their Richardson offices
- HBS Systems, a 30-year old company that is a leader in the design and development of business and electronic information systems for agricultural and industrial equipment dealerships, has grown to 24,000 SF at their Waterview facility
- Hyundai Digitech, which provides complex repair and refurbishment of wireless handsets added another 20,000 SF
- RT Creative Group, a video production company relocated to Richardson, leasing 20,000 SF.
With the upbeat projections for the Dallas area commercial real estate in 2015, we believe that Richardson will continue to be a strong player in the region, especially with the freeing up of over 1.5 million SF of office space as State Farm moves from its temporary to permanent location.
2014 Richardson Expansions, Relocations and Start-Ups