State Farm signs 1.5M SF lease in Richardson
December 26, 2012
By Candace Carlisle | Staff Writer
Dallas Business Journal
State Farm confirmed Thursday it has signed a lease for 1.5 million square feet of office space, the largest office lease recorded in Dallas history.
Earlier this month, the Bloomington, Ill.-based insurance company announced it had signed on KDC's massive $1.5 billion mixed-use, transit-oriented development in Richardson near North Central Expressway and President George Bush Turnpike.
Beyond confirming the deal this afternoon, State Farm spokeswoman Patti Kelly declined to give further comment.
The new State Farm office would likely serve as a large regional office with and existing employees.
Some real estate sources have wondered if State Farm could be looking at a larger corporate move, but previously Kelly said State Farm is not moving its headquarters to Texas.
Dallas' commercial real estate community was expecting State Farm to sign the large lease before the end of the year. Earlier this year, State Farm signed a lease for 400,000 square feet in Irving and a lease for 291,000 square feet in Richardson.
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