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Real Estate

CityLine

With 34 million square feet, Richardson has one of the largest concentrations of office, flex, and industrial space outside of Dallas' CBD.

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.

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City of Richardson Economic Development Department
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Phone: 972.744.4207
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