Items 7A & 7B ITEMS 7 A & B
Below is information on the garden office market provided by staff per a request by a
City Council member. Below please find the following information: 1)
Recommendations from the 2014 MXD Retail Marker Analysis study regarding the
garden office market; 2) garden office projects approved/square footage since January
1, 2015, and 3) current statistics on the class A and class B office market in the City.
1. MXD Study 2014 provided the following regarding garden office.
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6.0 Recommendations DEVELOPMEP,I ..
6.10 Suburban Multi-Tenant Garden Office
Target Markets:
• Office/Daytime
Recommended Locations:
• E Continental Boulevard
• Kimball Avenue
• Crooked Lane tr
Details: •�
• Professional Services
• Accountants
• Engineers/Planners/Architects .r
• Information Technology
• Lawyers
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• Advertising&Media ,
• Management Consulting
• Actuary's
Supportable Square Footage(2015-2025):
• 405,000 sq.ft.
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6.0 Recommendations =EVELOPMENT STRATEGISTS
Figure 6.10 Suburban Multi-Tenant Garden Office Locations
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MULTI-TENANT # -1;4,e-,rrp.`
GARDEN OFFICE: Wil!' "'an
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2. Garden Office Developments Approved since 2015
Project Case No. No. of Bldgs Total Floor Area
Southlake Villas ZA14-082 4 22448
Kirkwood Crossing ZA14-119 2 7000
Zelda Offices ZA14-129 3 17970
Hidden North Offices ZA15-067 1 7820
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Miron Grove ZA15-078 6 23738
Kimball Highland ZA150-092 4 23600
Cornerstone Business Park ZA15-093 5 28773
Pecan Creek Offices ZA15-097 3 17360
White's Chapel Office Park ZA16-107 5 27725
Total 33 176434
3. Current Office Market information from the Department of Economic
Development (CoStar)
Class B Office (Multi-tenant)
Total Existing Square Feet: 1,758,580 sq. ft.
Occupancy Rate: 85.6%
All Office - Southlake
Total Existing Square Feet: 3,711,159 sq. ft.
Occupancy Rate: 76.1%