Wednesday, October 12, 2016

Final Phase of State Farm's Mammoth Richardson Campus Opens Its Doors

After three years of construction, work is finally done on the huge State Farm Insurance campus in Richardson.
Developer KDC said Wednesday that it's finished construction on the fourth and final tower in the project at Plano Road and Bush Turnpike.
The State Farm towers contain 2.1 million square feet, making it the largest new business campus in North Texas — larger than even Toyota's huge headquarters in Plano.
State Farm has begun moving workers into the final tower — a 12-story, 500,000-square-foot office building on the east side of Plano Road.
More than 8,000 State Farm workers are housed in the entire complex.
"Started just over three years ago, CityLine has become a standout location for the modern-day employee and resident," KDC's Walt Mountford said in a statement.
The final phase of the project also includes 30,000 square feet of retail space and a five-level parking garage.
State Farm is still working on a sale of its Richardson office campus to Houston-based Transwestern Investment Group. The sale is expected to top $800 million in value and has been in the works since earlier this year.
"The transaction is pending and is part of our overall flexible real estate investment strategy," State Farm spokesman Chris Pilcic said. 
State Farm will continue to occupy the buildings on a long-term lease after the sale wraps up.
State Farm and KDC officials broke ground on the huge Richardson office project in April 2013. The insurance company campus is the largest component in the $1.6 billion CityLine project.
CityLine also includes a 489,000-square-foot office complex for Raytheon, the CityLine Market shopping center, 1,000 apartments with another 1,000 under construction, and a 148-room Aloft Hotel scheduled to open early next year.
When completed, CityLine is planned to contain 5 million square feet of office space, 3,925 multi-family residential units retail and restaurants.
Written By Steve Brown - Dallas Morning News