Green + Glen

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The Opportunity

Richardson has been a part of Dallas Area Rapid Transit (DART) since inception in 1983. DART operates commuter and light rail and buses for its 13 member cities. Richardson’s centralized location within the Metroplex allows for the location of 4 DART Rail Stations and 11 bus routes. The closest rail station to our development being Galatyn Park Station located approximately ½ mile from the subject property. Looking ahead, Richardson anticipates the introduction of two new east west rail stations by 2026 which will provide Richardson with direct rail access to DFW Airport.

Richardson is a supply constrained city within the Richardson, Plano, Allen, and McKinney micro market and Northeast Dallas submarket (as defined by CoStar). There is no new speculative industrial under construction in Richardson. The only construction activity in Richardson is the construction of a 123,342 square foot Naturich Labs Inc. facility at 3200 Research Drive. Within the broader Richardson/Plano/Allen/McKinney micro market there is one Class A speculative industrial development under construction in Plano, one in Frisco, and two in McKinney, TX. As a result, the Northeast Dallas submarket has the lowest vacancy rate of any submarket in the metroplex. The 76,440 SF industrial building was designed to look and feel like a Class A office building with two story glass along the front façade and dock high loading capability in the rear of the building. The corporate design supports up to three tenants as small as 25,000 SF with two corner office entries and a third entry in the middle of the building. The building is 32’ clear with ESFR sprinklers and given the height and exterior glass would accommodate a mezzanine office, if desired by a tenant. As with each Box development, given the building size we always have multiple exit options to either lease and exit in the capital markets or sell to a user.