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The momentum continues in Richardson: new tech companies, CityLine update

Sep 8, 2014

As we round the corner and head for home in 2014, the activity and excitement in Richardson has never been greater.

 

State Farm’s local employment has already hit the 4,000 mark, and early next year the company will begin to occupy its gleaming new campus at CityLine. Soon thereafter, a new Aloft hotel, Whole Foods grocery and a host of new restaurants will be popping up in what will soon be one of Collin County’s premier live-work-play environments.

 

Since many consider Legacy Town Center as the gold standard for mixed use in Dallas-Fort Worth, it’s interesting to see how the two developments might compare at build-out:

 

 

 
 

Feature

CityLine

Legacy TC

Year Started

2013

1999

Acreage

186

168

Office SF

6.0 million SF

6.5 million SF

Retail

300,000 SF

600,000 SF

Hotels

2

1

Apartments

4,000

3,600

DART

Yes

No

Live/Work Population

30,000

50,000

Parks

3

1

 

 

While Legacy has the edge on retail space, CityLine’s DART station and three parks give it  the benefits of accessibility and open venues for public performances and outdoor activities. While the magnitude of both developments is expansive, each will have its own distinctive character.

 

Over on the northeast side of CityLine, Raytheon’s 1,700-employee, 489,000 square-foot campus is well underway with anticipated occupancy sometime late next year.

 

There are still some choice sites on the George Bush Turnpike located west of the CityLine development, and expect to see some future announcements on projects planned for that area.

 

In addition to the two large campus projects, Richardson has seen quite a bit of recent expansion and relocation activity from technology-based companies:

 

Connectivity Wireless designs and builds in-building wireless systems. Its notable projects include the Texas Motor Speedway, the George W. Bush Presidential Library and all Baylor hospitals.

 

NetPower Technologies builds direct current to direct current power converters. The company is a great complement to all the electronic systems that are engineered and assembled in Richardson.

 

MedeAnalytics, a fast-growing IT company headquartered in Emeryville, CA, is moving its Dallas operations and about 100 employees to Richardson. The company provides Big Data and Business Intelligence services to many of the major healthcare-related organizations in the US, including Blue Cross, Methodist, Mayo Clinic and Shriners Hospitals. The company receives 10,000 daily data feeds from over 75 healthcare data systems and manages over 280 terabytes of data containing the treatment histories of over 30 million healthcare receivers. REDP’s expedited permitting helped facilitate the move to 18,235 SF at Custer Court, 501 N. President George Bush Turnpike by November 1.

 

With the cool breezes of fall on the way, there is still plenty to look forward to in 2014. State Farm’s gradual de-occupancy of the nearly 1.5 million SF it holds under short term leases will create opportunities for the next wave of companies seeking the advantages of a Richardson location. Retailers are scrambling to find strategic spots at CityLine and elsewhere as Richardson’s employment density ratchets up, and multi-family housing developers are hustling to find any tracts of land that have the right zoning. 

2014 Richardson Expansions, Relocations and Start-Ups
# Date Company Cluster Business  Type  From  Occ.  Address  Square Feet  Type Space  Jobs  Broker 
1 1/6/2014 HBS Systems Software Agriculture & industrial equipment industries  Relocation  Richardson  Lease  3400 Waterview #200  24,000  Office  60  Daniel Rudd
NGKF 
2 1/13/2014 PHA Consulting Engineers, Inc. HT-other Consulting engineers Relocation Richardson Lease 1101 E. Arapaho, Ste 130 5,162 Office 20  Kent Smith, NAI Robert Lynn 
2/14/2014  State Farm  FIRE  Property insurance  Relocation  Bloomington, IL  Lease  CityLine  500,000  Office  2,300  R. Cooper, C. Wilson, Cassidy Turley 
2/18/2014  Image Technology Systems  Software  Develop software for lodging facility management  Relocation  Plano  Buy  2209 N. Collins  11,810  Flex  35  None 
3/24/14  ZTE  Telecom  Mobile handset manufacturers  Renewal  Richardson  Lease  2425 NCX  45,000  Office  120  Rachel Brown, JLL 
3/25/2014 Prodea  HT-other  Home digital entertainment platform  Renewal  Richardson  Lease  2434 NCX #500  13,000  Office  70  None 
3/26/2014  Raytheon  HT-other  Information and intelligence services  Relocation  Garland  Build  CityLine  489,000  Office  1,700  B. Selner, S. Holley, JLL 
5/29/2014  Custom Credit Solutions  Software  Credit application forms for lenders  Expansion  Richardson  Lease  801 E. Campbell  15,000  Office  15  Kent Smith, NAI Robert Lynn 
6/4/2014  Hyundai-DigiTech  Telecom  Mobile phone repair and service  Expansion  Richardson  Lease  1299 Commerce  20,000  Flex  50  Justin Jordan
Carey Cox 
10  6/11/2014  XPS Solutions  FIRE  Property management for self-storage facilities  Expansion  Richardson  Lease  2703 NCX  18,399  Office  100  Dave Petersen
NAI Robert Lynn 
11  6/18/2014  Divercety  HT-other  Design engineering Relocation  Carrollton  Lease  1200 N. Bowser  15,000  Flex  20  None
12  6/18/2014  Intelang  Software  Next-gen Internet search engine software  Relocation  Richardson  Lease  WND 7,000 Flex  10  Janice Peters, Hudson Peters 
13  7/1/2014  Delta Greentech  HT-other  Makes power equipment systems, like UPS  Renewal  Richardson  Lease  2360 Campbell #530  9,000  Flex  18  None 
14  7/15/2014  Connectivity Wireless  HT-other  Install In-building wireless systems  Renewal  Richardson  Lease  630 International #100  7,850  Flex  45  None
15  7/25/2014  NetPower Technologies  HT-other  DC/DC power conversion  Expansion  Richardson  Lease  1680 N. Prospect  13,896  Flex  40  Ric Kanatzer, Studley 
16  8/11/2014  MedeAnalytics  HT-other  Analysis of big data for healthcare industry  Relocation  Dallas  Lease  501 N. PGBT  18,235  Office  100  John Roper, CBRE 
                         
  Totals               1,212,352    4,703  

 

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