To draw a rectangular text box:
Select the Text Box Tool.
Drag to draw a rectangular text box having a single text column. A 'Text Box' label is displayed during drawing.
NOTE: A text box has no line stroke and no color fill, but you can add these using the Inspectors.
When drawing is completed, a text cursor is auto-inserted in the text column and the Text Tool is auto-selected, ready for text input.
As an alternative method, you can use Command-drag, as described here: