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  3. Real Estate Market Overview

Real Estate Market Overview

Richardson’s strategic location and abundant supply of commercial properties is one of the city’s most attractive features to relocating and expanding businesses.
 
The city’s superior infrastructure and a stable pro-business governance has also made it a favorite among institutional real estate owners and prominent developers.

Working with a company and/or their real estate broker, REDP will ensure that every property which meets a prospective company’s requirements is included in a search.
 
A Free Property Search is available under Sites and Building Search in this section. Questions or for more detailed information, contact John Jacobs, Executive Vice President, Economic Development 972.792.2802


Rates
Rents are quoted on a per SF - per year basis

  • Office space is typically quoted on a gross rate, and will often include an electric cost pass-through
  • Flex space, also called office flex or office showroom space, is usually quoted on an “industrial gross” basis
    • In addition to base rent, a tenant pays its own electrical and janitorial costs, and a portion of certain common area charges
Richardson Office/Flex/Industrial Space Overview - 4th Quarter 2019
 

Total SF (in Millions)

Occupancy Rate

Average Rate

Total Office/Flex/Industrial RBA

36.2

90.2%

$13.61/SF

Office Total RBA

21.6

83.6%

$23.26/SF

Office - Class A

10.6

82.6%

$26.20/SF

Office - Class B, C or other

11.0

84.6%

$20.32/SF

Flex Total RBA

8.8

89.7%

$8.89/SF

Industrial Total RBA

5.8

97.2%

$8.67/SF

Source: CoStar Group - February 2019

Examples of Richardson Office, Flex, Industrial Buildings
Class A Office Space
Definition: An office property with highest quality construction and workmanship, materials and systems, significant architectural features, high quality/expensive finish and trim, abundant amenities, first rate maintenance and management.
 
Palisades Central II

Class B and Class C Office Space
Definition: Class B offers more utilitarian space without special attractions, ordinary architectural design and structural features, average interior finish, systems, and floor plans, adequate systems and overall condition.
 
Definition: Class C are "no-frills", older buildings
 
Creek View Corporate Center II

Flex / Industrial Space
Definition: Flex space also called office/showroom, designed to be versatile, used in combination with office, R&D, some service retail, including but not limited to industrial, warehouse, and distribution uses.

Definition: Industrial space has more industrial uses such as assembly work, processing, and/or manufacturing products from raw materials or fabricated parts. Also warehousing, distribution, and maintenance facilities.
 
Cardinal Park 5 - 1155 Kas Drive
Site Selection
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About Richardson EDP and The Telecom Corridor
Richardson, Texas is a vibrant and diversified business community, strategically located in one of the brightest economic regions in the world the Dallas/Fort Worth Metroplex. Whether your company seeks the latest technological breakthrough, provides the highest level of financial service or thrives upon the synergy of a great business and research university, Richardson is where excellence is the expectation.
Richardson Economic Development Partnership
411 Belle Grove Dr., Richardson, TX 75080
Phone: (972) 792-2800
Email: info@telecomcorridor.com
  • Our City
    • Our City
    • Arts and Culture
    • Climate
    • Cost of Living
    • Healthcare
    • Housing
    • Recreation and Entertainment
  • Entrepreneurial Resources
    • Entrepreneurial Resources
      • Richardson Small Business Resource Guide
      • Richardson EDP Services
      • Richardson Ecosystem for Entrepreneurs
      • Startup Resources
    • Small Business Support
    • Local Purchasing Offices
  • Site Selection
    • Site Selection
    • Business Climate
    • Expansion/Relocation Assistance
    • Incentives
      • Local Incentives
      • State Incentives
    • Industry Clusters
      • Software
      • Financial Services
      • HQ
      • Telecom
      • Semiconductor
      • Defense and Aerospace
      • R&D
    • Real Estate Market Overview
    • Incentive Application
  • Community Data
    • Community Data
    • Community Profile
    • Demographics
    • Education
    • Transportation
    • Government
    • Tax Rates
    • Utilities
    • Workforce
    • Major Employers
    • Retail Development
    • Map Room
  • International
    • International
    • International Soft Landing Services
    • International Business Alliances
    • Export Assistance
    • International FAQs
    • International News and Events
    • Why Richardson
      • Japanese
      • Chinese
      • Korean
      • Spanish
      • French
      • German
      • Hebrew
    • Videos & Resource Materials
    • Why Texas
    • International Companies
  • Media Room
    • Media Room
    • News and Press Releases
    • Videos
    • Success Stories
  • Why Richardson
  • About Us
    • About Us
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    • Staff Profiles
    • #RealRichardson
    • FAQs
  • Contact Us
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