By John Jacobs | Executive Vice President
Richardson’s economic development strategy of welcoming quality creators and users of technology produced the two biggest splashes of the summer and early fall months. RealPage, a Software-as-a-Service company that specializes in real estate, particularly multi-family real estate, announced in June that it will be relocating its 2,000-employee corporate headquarters to space in the former Nortel facility at 2201 Lakeside.
Then, in July it was confirmed that GEICO will be moving its Dallas-Fort Worth regional headquarters and 1,800 employees to the former Fossil headquarters building at 2280 N. Greenville. The company is currently renovating and adding space at the building with expectations of occupying it early next year.
GEICO, the acronym for “Government Employees Insurance Company,” is headquartered in Chevy Chase, Maryland, and has 10 regional headquarters in the United States, with Richardson soon to be one. GEICO is Texas’ fourth largest auto insurance company and the second largest in the U.S. behind only State Farm. GEICO and its ubiquitous Gecko lizard have been in the forefront of the exploding online market for auto insurance. Use of the latest Internet technologies has propelled GEICO’s continued growth.
However, it’s a little known fact that GEICO has Texas roots. The company was founded in 1936 in San Antonio, Texas, by Leo Goodwin, a former USAA executive. Believing that non-military government employees would also be lower-risk customers, Goodwin moved the company to Washington, D.C., the next year, and the rest is history. After many years of operating as a publicly traded entity, GEICO was acquired in 1996 by Warren Buffet’s Berkshire Hathaway and became its wholly-owned subsidiary.
Another strategy-backed positive result for Richardson was the addition in October of Yankon Lighting, a Chinese LED lighting products company. In business since 1975, Yankon will make Richardson its second office in the U.S. after establishing a California presence 10 years ago.
Yankon is headquartered in Zhejang, China, and is traded on the Shanghai stock exchange. The company has 1,400 employees worldwide and revenue of over a half billion dollars.
The Mayor’s Office of International Business Development, created three years ago, has been very active in promoting Richardson and its Telecom Corridor® area around the globe. In fact, the REDP recently completed a very successful marketing trip to China, Taiwan and Japan, building business ties with other quality Asian companies.
2015 Richardson Expansions and Relocations
|# ||Date||Company||Business||Type||From||Occupancy||Address||Square Feet||Type Space ||Jobs||Broker |
|1 ||1/3/2015||Service King||Headquarters for auto repair business||Relocation||Richardson||Lease||2600 NCX #400||27,000||Office||80||Brandon Wood,|
Corp. Realty Adv.
|2 ||1/8/2015||iWire365||B2B communications consulting||Relocation||Plano||Lease||700 N. Glenville #700||12,000||Flex||30||Nicholas Payne,|
PS Business Parks
|3||1/15/2015||Nexa Technologies||Customizable online stock trading system||Relocation||Plano||Lease||801 E. Campbell #400||5,842||Office||20||Deborah Borum|
|4||1/20/2015||TNT Dental||Internet and web services for dental professionals||Relocation||Plano||Buy||500 Lockwood||10,928||Office||45||None|
|5||2/5/2015||Texas Instruments ||Manufacturer of semiconductor chips ||Relocation ||Plano ||Own ||300 W. Renner ||100,000 ||Office ||400 ||None |
|6||2/5/2015||Hitachi Telecom ||HQ for telecom arm of Hitachi ||Renewal ||Richardson ||Lease ||2280 Campbell Creek ||33,014 ||Flex ||100 ||Susan Arledge,|
|7||2/6/2015 ||Avnet ||Distributor of technology parts and equipment ||Relocation ||Richardson ||Lease ||3101 E. PGBT ||36,000 ||Office ||40 ||John Aldrich,|
|8 ||2/6/2015 ||Amerisource-Bergen ||Contact center for Fortune 50 pharma company ||Relocation ||Frisco ||Lease ||1225 Alma ||38,000 ||Office ||250 ||Chris Doggett,|
|9||2/10/2015||TD Ameritrade||Data center for stock trading firm||Relocation ||Carrollton ||Buy ||1811 Renner ||73,320 ||Data Center ||15 ||Anthony Bolner, Stream |
|10||3/26/2015||Vertex Group||HQ for utility company BPO||Relocation||Richardson||Lease||501 W. PGBT #350||20,000||Office||250|
|11||4/17/2015||Kathrein Group||US HQ for wireless telecom business ||Relocation||Medford, OR ||Lease||2400 Lakeside||8,026||Office||25||Mark Jordan,|
|12||5/1/2015||Silicone Specialties, Inc ||Materials for highway and commercial construction ||New Branch ||Dallas (HQ) ||Lease ||610 S. Sherman #118 ||6,397||Flex||15 ||Ryan Wolcott,|
|13||5/12/2015||Frontier Communications||Phone and cable TV operator||Relocation||Allen||Lease||2221 Lakeside||192,340||Office||800||Rick Hughes,|
Cushman & Wakefield
|14||6/4/2015||RealPage||Software for real estate management||Relocation||Carrollton||Lease||2201 Lakeside||400,000||Office||2,000||Tim Terrell,|
|15 ||7/2/2015||GEICO ||Automobile insurance||Relocation||Farmers Branch||Lease||2280 N. Greenville||232,000||Office||1,800||Tom Lynn & Nick Lee|
NAI Robert Lynn
|16||7/3/2015 ||GXT, Ltd.||Telecom engineering and consulting||Expansion||Richardson ||Lease||1130 E. Arapaho||8,252||Office ||30||Kent Smith,|
NAI Robert Lynn
|17||7/7/2015||Adolfson & Peterson||Commercial general contractor||Expansion||Richardson||Lease||1600 N. Collins||19,000||Office||45||None|
|18||7/23/2015||Adva Optical||Optical networks||Renewal||Richardson||Lease||2301 N. Greenville Ave.||25,000||Office||75||Baron Aldrine|
|19||8/6/2015||RealPage||Software for real estate management||Relocation||Carrollton||Lease||2221 Lakeside||25,000||Office||100 ||Tim Terrell|
|20||10/12/2015||Yankon Lighting||LED lighting lamps and fixtures||New Branch||China||Lease||1365 N Glenville ||15,000||Flex||5||Josh Barnes|
|21||10/13/2015||Appfolio||SaaS for property management and law offices||Expansion||Richardson|| Lease||1701 N. Plano Rd.||24,479||Flex||45||Randy Cooper|
| || || |
| ||Totals to date|| || || || || || ||1,311,598||6,170|| |