Nebraska-based Goldenrod Companies is planning to update a Richardson office building it purchased earlier this year.
The company is planning to spend around $2 million to update several spaces within the 11-story Collins Crossing office tower, said John Zogg, president of the Southwest Region for Goldenrod Companies. The office tower is located within Richardson’s technology and entrepreneurial hub, the Innovation Quarter.
What you need to know
Zogg said it was time to update interior portions of the building, which will include the deli, lobby, bathrooms and multi-tenant areas.
The renovations are planned ahead of the move-in of a technology company and Chesmar Homes next year, which will take the occupancy of the building to 93%, Zogg said. Around 21,000 square feet of the 300,000-square-foot Class A office tower is not currently leased.
Some context
Goldenrod Companies bought the tower with Reserve Capital Partners in January. At the time, around 65% of the space was leased, Zogg said.
The transaction also included around 3.5 acres, which is planned to be developed into a mixed-use development in the future, Zogg added.
Looking ahead
Renovations in the office tower are expected to begin in the fall, Zogg said.
