Real Estate

With 30 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 - 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