Real Estate Report With 34 million square feet, Richardson has one of the largest concentrations of office, flex, and industrial space outside of Dallas' CBD. Contact John Jacobs, Executive Vice President, Economic Development, at 972-792-2802 for help with your property search. Rates Rents are quoted on a per square foot - 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 SF (in Millions) Vacancy Average Total Office/Flex/Industrial 34.4 Office Total 21.7 18.1% $24.45/SF Office - Class A 10.8 18.3% $27.46/SF Office - Class B, C or other 10.9 17.9% $21.48/SF Flex Total 8.8 8.8% $12.77/SF Industrial Total 4.2 6.2% $9.53/SF Source: CoStar Group - August 2021 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. 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 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.