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, Sr. EVP, 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