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Posted: Mar 24, 2011
FOR IMMEDIATE RELEASE: May 28, 2010
Media Contact:
Sydney Townsend
stownsend@sunwestpr.com
Sunwest Communications
(214) 373-1601 or (972) 979-9351
*KDC LEASES 535,000 SQUARE FEET OF OFFICE SPACE TO FOSSIL FOR
NEW HEADQUARTERS IN RICHARDSON*
KDC will purchase three Fossil-owned buildings as part of transaction.
DALLAS – March 22, 2011 – KDC, one of America’s leading commercial real estate and investment firms, has leased 535,000 square feet of office space to Fossil Partners, L.P. at 901 Central in Richardson, Texas.
Fossil, a worldwide designer and distributor of fashion accessories, is consolidating employees from its two Richardson corporate offices located at 2280 N. Greenville (190,000 SF) and 2323 N. Central (130,000 SF). Fossil is also moving distribution operations currently located at 2155 Campbell Creek (139,000 SF) in Richardson to previously leased space. KDC will purchase all three Fossil buildings as part of the transaction, once the properties are vacated. Fossil employees will occupy 901 Central later this year, once the interior renovations are complete.
“Fossil is an A-plus tenant and a tremendous, long-term corporate citizen in the City of Richardson,” said John Brownlee, senior vice president, KDC. “Fossil’s commitment to relocate its headquarters to this highly visible, southern gateway to the city, is a tremendous outcome for KDC and the community.”
“We are excited about the opportunity to bring our corporate team together again under one roof. The new facility will allow us to expand our design, art and product and store development functions, while continuing to provide us space needs to support the anticipated growth of our global business,” said Mike L. Kovar, executive vice president and CFO of Fossil. “The City of Richardson and KDC have put forth a great effort to keep us in the community we love, and in a new building that will allow us to grow and prosper in Richardson.”
901 Central, which is owned by San Francisco-based The Swig Company, became available when the former tenant, Blue Cross and Blue Shield of Texas (BCBSTX), moved into its new 1.1 million-square-foot headquarters in March 2010. KDC developed BCBSTX’s new headquarters, also in Richardson, and then started redevelopment of the insurance company’s former headquarters under the new name of 901 Central.
“Fossil has always been a phenomenal corporate citizen in Richardson, and this renewed commitment to relocate and expand its new headquarters here is very exciting,” said Mayor Gary Slagel. “Having Fossil move to this location strengthens our community on many levels. The Brick Row transit-oriented development will benefit from the young professionals who work there. Fossil is also a great neighbor to have for our Spring Valley Corridor, which has several initiatives underway to promote further development. And, we are all looking forward to seeing its logo front and center on our southern gateway into the community on US 75.”
901 Central features two buildings, totaling 535,000 square feet, on an accessible 26.3-acre campus on the southeast corner of Central Expressway and Spring Valley in Richardson. It is located near a Dallas Area Rapid Transit Light Rail Station that provides travel to Dallas, Plano and Richardson.
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.
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.