Richardson's economy shows resilience
For a moment let’s forget about all the downsides of 2020 and focus on some positive achievements. The REDP was successful, after some taxing rounds of written submittals and virtual interviews, in renewing its Accredited Economic Development Organization (AEDO) status for another four years. Only the top 1% of U.S. EDO’s have attained the coveted designation.
The 2020 relocation and expansion highlights included the “Amazon of the Pet World” Chewy, which leased 57,000 SF at 930 E. Campbell for a 700-person, 3-shift customer service operation. (right)
Id Software, whose parent company Xenimax was purchased this year by Microsoft, renewed its 57,100 SF lease at Collins Crossing.
The largest office lease was made by CBRE, which announced the relocation of its HQ from Los Angeles to DFW and leased 100,000 SF of office space at 2375 N. Glenville that will accommodate another several hundred jobs here.
Debt Blue consolidated its financial service operations in 27,000 SF at the recently remodeled 1125 E. Campbell building represented by C&W’s Clint Madison. The building is the 5th Richardson Class A office to achieve significant tenant interest following amenification. (right with blue windows)
Texas Instruments’ is in six-crane mode building its million square foot R-Fab II semiconductor manufacturing plant on Renner Road. Completion of the shell on the $3 billion+ project is scheduled for the end of 2021.
In spite of all the adversity, Richardson’s economy has proven to be highly resilient, and it continues to evolve to meet future needs.