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Ericsson already occupies 200,000 square feet in what was once the Nortel campus on US Highway 75 and is now due to lease a further 260,000 square feet. The deal is one of the largest in North Texas so far this year.
The building is located in the Telecom Corridor, a technology business centre in Richardson which contains over 25 million square feet of office space and accounts for more than 80,000 jobs.
Ericsson has been expanding its Texas workforce and currently has 1,100 employees working in the former Nortel campus, however, this number is due to rise.
“In the past two years, Ericsson has grown from some 2,000 employees to more than 4,000 in the Dallas area,” Rob Elston, Director of External Communications for Ericsson North America told the Dallas News.
“The new space will accommodate roughly 1,400 personnel and is in addition to our North American headquarters in Plano.”
Pillar Commercial recently bought the 16-storey 800,000 square foot building for USD 43 million.
“When we purchased this campus, we believed it truly was one of the premier commercial properties in the region, and this commitment from Ericsson is a testament to that belief,” Pillar CEO Manny Ybarra said.
Ericsson has operated in Richardson since the 1980s, according to John Jacobs, Senior Vice President of Economic Development with the Richardson Chamber of Commerce.
“They seem to be one of the most healthy [firms] and a major survivor in the telecommunications equipment business,” Jacobs told the Dallas News.
Speaking of the Telecom Corridor, Jacobs said: “We look at vacant office space as inventory we can sell,” Jacobs said.
“Hopefully, this deal will get the momentum going.”
Editor’s notes: As of June 2023, Ericsson no longer listed a Richardson office address on its website. It lists Legacy Drive in Plano Texas as its U.S. headquarters.
Ericsson powers over 140 commercial 5G live networks in over 60 countries worldwide and the U.S. is the company’s largest market.
The company posted revenues of 271.546 billion SEK in 2022 and, in 2023, employed 105,000 people.