DALLAS – (July 6, 2011) – KDC, one of America’s leading commercial real estate and investment firms, has acquired Fossil’s two corporate office buildings and a warehouse located in Richardson, Texas. This transaction opens a prime block of 460,000 square feet of space, which KDC will redevelop and market.

In March, KDC leased the 535,000-square-foot 901 Central, located at Central Expressway and Spring Valley, to Fossil for its new corporate headquarters. Fossil will be consolidating employees from its two Richardson corporate offices located at 2280 N. Greenville (190,000 SF) and 2323 N. Central (131,000 SF) into 901 Central, and consolidating a distribution center, located at 2155 Campbell Creek (139,000 SF), into other owned facilities. Fossil employees will occupy 901 Central in the fall, once the interior renovations are complete.

“We see the purchase of the Fossil buildings as another great redevelopment opportunity, similar to KDC’s purchase and redevelopment of the former EDS complex, now The Campus at Legacy,” said John Brownlee, senior vice president, KDC. “There is tremendous potential with the buildings, including extra land for as much as 500,000 square feet of new development at Fall Creek.”

Brownlee added, “The soon-to-be former Fossil Headquarters at 2280 N. Greenville is a unique opportunity for creative space that helped inspire the meteoric growth of Fossil, one of D-FW’s most dynamic success stories. The adjacent Class A warehouse at 2155 Campbell Creek is being studied for several different uses, including the potential conversion to a data center.”

KDC plans to unveil the redevelopment plans once the Fossil buildings are vacated later this year. The 2323 N. Central location will become much more accessible, as plans have Galatyn Parkway extending west directly into the site and building, vastly improving the ingress and egress.

The purchase of the Fossil properties is the next round in a series of transactions that started with KDC’s development of Blue Cross and Blue Shield of Texas’ new 1.1-million-square-foot headquarters, completed in February 2010. Once the Richardson-based headquarters was complete, KDC started redevelopment of the insurance company’s former headquarters under the new name of 901 Central. KDC then leased 901 Central to Fossil, opening up the opportunity to purchase Fossil’s three buildings.

“We’ve been very fortunate to have a 1-million-square-foot development project lead to other opportunities in the dynamic Richardson submarket,” said Toby Grove, president, KDC. “The quality of this market, combined with the great transportation infrastructure, has strongly positioned Richardson for the next wave of growth as the office market continues to rebound.”

About KDC
KDC, one of America’s leading commercial real estate and investment companies, provides a full range of commercial real estate services including corporate build-to-suit development, acquisitions, corporate facility project/construction management, project financing, asset and land management, and marketing and leasing. KDC is headquartered in Dallas and has offices in Atlanta; Charlotte, N.C.; and Detroit. For more information visit kdc.com.

About Fossil
Fossil is a global design, marketing and distribution company that specializes in consumer fashion accessories. The Company’s principal offerings include an extensive line of men’s and women’s fashion watches and jewelry sold under proprietary and licensed brands, handbags, small leather goods, belts, sunglasses, soft accessories, shoes, and clothing. In the watch and jewelry product category, the Company’s offerings include a diverse portfolio of globally recognized proprietary and licensed brand names under which its products are marketed. The Company’s extensive range of accessories products, brands, distribution channels and price points allows it to target style-conscious consumers across a wide age spectrum on a global basis. The Company’s products are sold to department stores, specialty retail stores, and specialty watch and jewelry stores in the U.S. and in over 120 countries worldwide through 23 company-owned foreign sales subsidiaries and a network of over 60 independent distributors. The Company also distributes its products in over 360 company-owned and operated retail stores and through international e-commerce websites and the Company’s U.S. e-commerce website at www.fossil.com, where certain product, press release and SEC filing information concerning the Company is also available.

####