RealPage Expands To 173,000 SF

CARROLLTON, TX-Citing growth despite the current economic downturn, RealPage Inc. has expanded its headquarters in this northwest suburb of Dallas. The company, which provides software, trend information and statistics to the multifamily industry, signed a long-term lease adding 28,205 square feet to its current operations, allowing it to take over the entire 173,360-square-foot office building.

Company CEO Steve Winn tells GlobeSt.com RealPage leased approximately 100,000 square feet when it moved into the space during the late 1990s. The current expansion is RealPage’s second since moving into the location at 4000 International Pkwy.

“We’re a low-cost provider in this industry,” Winn says, explaining RealPage’s expansion. “Low-cost providers offering our services tend to be stronger in down economies. As people struggle to address weaknesses in today’s economy, anything they can do to price assets correctly is in high demand.”

RealPage’s new lease with building owner Billingsley Co. means the company will take over the entire third floor, which has been vacant since the building came online in 1999. The space is currently being built out, and RealPage will move into it this summer. The new agreement is co-terminus with RealPage’s already existing lease, with both to expire in about eight years.

Though the building is 100% occupied, Winn says there’s room for expansion in the 300-acre International Business Park, where the facility is located. Nothing more is likely to occur during 2009, however. “Typically we start planning for expansion about 12 months before we actually need the space,” Winn says.