KDC BREAKS GROUND ON RAYTHEON OFFICE COMPLEX IN RICHARDSON, TEXAS
Located at CityLine, new state-of-the-art campus will house 1,700 employees
RICHARDSON, Texas – July 21, 2014 – KDC, one of America’s leading commercial real estate development and investment firms, today broke ground on a 489,000 square-foot-office complex for Raytheon at Cityline, the 186-acre mixed-use development in Richardson, Texas.
“We are honored by Raytheon’s selection of KDC. Together we will build a facility that supports the company’s global vision and its future growth,” said Steve Van Amburgh, CEO, KDC. “Raytheon and its employee team are a great addition to CityLine and another step toward creating a mixed-use development featuring residences, retail, offices and entertainment that will be a jewel of the Richardson community.”
Raytheon’s new facility, located at 1717 East CityLine Drive, will consist of three campus-style buildings at the southwest corner of President George Bush Turnpike and Wyndham Lane. The buildings will house 1,700 employees from the company’s Jupiter Road complex in Garland and are designed to accommodate future expansion. The project is slated for completion in late 2015.
“Raytheon has been a pillar of the North Texas business community for many years and we are proud to welcome the company to CityLine,” said Toby Grove, president, KDC. “Its new home will be fully integrated into the mixed-use components of CityLine and provide a highly energized and walkable environment for employees.”
Construction of the 2.3 million square-foot initial phase of the CityLine development began in summer 2013 with completion scheduled for 2015. The project features dense urban development set in a comfortable environment with easy access to office, residential, retail, entertainment and parks.
At full build out, CityLine will contain approximately six million square feet of office space, two hotels, 3,925 multi-family residential units, 300,000 square feet of grocery, restaurant, entertainment and retail space, and three parks.
“Richardson is so proud to become the new home of Raytheon’s Intelligence, Information and Services operation,” said Richardson Mayor Laura Maczka. “The addition of Raytheon reinforces our longstanding commitment to providing a supportive environment for the world’s most innovative, tech-savvy companies and represents one of the great highlights in KDC’s dynamic CityLine development. We are pleased to welcome Raytheon and its many outstanding employees, and we look forward to their contributions to our vibrant community.”
The project architect is HKS and the civil engineer is Kimley-Horn and Associates. Brad Selner and Stephen Holley from Jones Lange Lasalle’s Dallas office and Michael Condon and Brendan O’Shaughnessy from the Los Angeles office represented Raytheon in the transaction earlier this spring.
KDC, one of America’s leading commercial real estate development and investment companies, provides a full range of commercial real estate services including corporate build-to-suit development, acquisitions, corporate facility project/construction management, project financing, asset and land management, and marketing and leasing. KDC is headquartered in Dallas and has offices in Atlanta; Austin, Texas; Charlotte, N.C., and Houston. For more information, please visit kdc.com.
Raytheon Company, with 2013 sales of $24 billion and 63,000 employees worldwide, is a technology and innovation leader specializing in defense, security and civil markets throughout the world. With a history of innovation spanning 92 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as cyber security and a broad range of mission support services. Raytheon is headquartered in Waltham, Mass. For more about Raytheon, visit us at www.raytheon.com and follow us on Twitter @Raytheon.