On April 28, D CEO will reveal the winners of its 2021 Commercial Real Estate Awards program. Leading up to the big event, we’re featuring all 83 finalists (51 projects and deals and 32 professionals), one category at a time. Today, we’re sharing information about the project in the Best Redevelopment or Renovation category.
Microsoft Las Colinas
Key Players: Beth Bowman with Irving-Las Colinas Chamber of Commerce and Irving Economic Development Partnership; Irving Mayor Rick Stopfer; Raamel Mitchell with Microsoft; Erica Mulder with Irving-Las Colinas Chamber of Commerce; and Diana Velazquez with Irving Economic Development
While Microsoft has been in Texas for more than two decades, this redevelopment/renovation makes the technology giant’s Irving-Las Colinas location the second-largest office location outside of its Redmond, Washington, headquarters. Microsoft expanded its Irving–Las Colinas campus via a $31.4 million capital investment, including $22.933 million for buildings and $8.647 million for machinery. The investment into the existing 32-acre campus allowed the company to consolidate and grow its Customer Service, Inside Sales, and Public Sector business groups. Microsoft decided to invest in the Las Colinas campus after thorough demographic and psychographic analyses. They also received a financial incentive in the form of an abatement agreement from the City of Irving, a Texas Enterprise Fund grant of $4.8 million.
Read the full article at D Magazine.