Motorola Solutions has opened its new 136,000-square-foot manufacturing facility in Richardson, Texas. The property is set to be a production center for the company’s Video Security & Analytics department. The building was previously mentioned by Motorola Chairman & CEO Greg Brown in the company’s recent fourth-quarter earnings call.
JacksonShaw completed the building in 2019. The company’s multi-state portfolio includes properties across several asset classes in Texas, as well as in Arizona, Nevada and Colorado, among others. According to CommercialEdge, the developer received a $25 million construction loan from Veritex Community Bank in 2018. In October 2020, Veritex also provided financing for the acquisition of a segment of Trails at 620, a retail property in Austin, Texas.
The Richardson facility offers 28-foot clear heights, 129-foot truck courts, ESFR sprinklers and 50- by 60-foot bay spacing. The facility also includes 200 parking spaces. Holt Lunsford Commercial’s Ben Wallace and Joshua Barnes are the leasing agents.
Located at 2910 Telecom Parkway on approximately 35 acres, the building is situated east of President George Bush Parkway, with Motorola’s neighbors including Fujitsu America and Boeing. The facility is within roughly 20 miles of both Dallas Love Field Airport and the city’s downtown.
Dallas’ industrial strength
Dallas-Fort Worth continues to be one of the most active industrial markets in the country. According to a recent CommercialEdge report, the average rent for industrial space in the Metroplex was $4.49 per square foot at the end of last year, which is lower than the national average of $6.38, but marking a 4.3 percent year-over-year improvement.
In 2020, more than 80 industrial buildings were delivered across Dallas-Fort Worth totaling more than 27 million square feet of new industrial stock, additional CommercialEdge data shows.
Locally, a Cushman & Wakefield report shows that the Richardson/Plano submarket had the highest overall average asking rate across the Metroplex as of the fourth quarter of last year, at $10.59 per square foot.