Raytheon campus in Richardson's $1.5 billion CityLine project is for sale
November 21, 2016
By Steve Brown
Real Estate Editor | Dallas Morning News
Raytheon Corp.'s shiny new office campus in Richardson is up for grabs.
It's part of the $1.5 billion CityLine project at Bush Turnpike and Plano Road.
Developer KDC constructed the two-building campus on the south side of Bush Turnpike, just east of State Farm Insurance's huge regional hub.
The Raytheon buildings, which opened in May, house almost 2,000 workers for the Massachusetts-based defense contractor. Dallas architect HKS designed the buildings.
KDC has hired commercial property firm CBRE to market the Raytheon complex for sale. Raytheon will continue to occupy the campus on a long-term lease.
That's the same approach taken by State Farm, which just sold its four-building, more than 2 million-square-foot CityLine high-rise complex.
The more than $800 million State Farm building sale to a South Korean investment fund and Transwestern Investment Group is one of the largest such transactions ever in North Texas.
CBRE representatives declined to comment on the Raytheon building sale offering.
CBRE is also selling retailer J.C. Penney's huge headquarters in Legacy business park in West Plano.
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