Posted: Jul 01, 2008
FOR IMMEDIATE RELEASE: July 1, 2008
KDC LEASES FIRST BLOCK OF SPACE AT 1.2 MILLION SF REDEVELOPED THE CAMPUS AT LEGACY
Leases follow two year, $15 million renovation at 107-acre campus
DALLAS – (July 7, 2008) – – KDC, one of America’s leading commercial real estate firms, and San Francisco-based Spear Street Capital LLC have leased 110,137 square feet to five companies at the redeveloped The Campus at Legacy. The new tenants will take space in the 5360 Legacy building, one of three 400,000-square-foot office buildings on the development.
Dr Pepper Snapple Group Inc. (NYSE: DPS), which has its’ corporate headquarters across the street, has signed a five-year lease for 41, 225 square feet and will occupy a first-floor wing of the three-story building. World Ventures, an online travel company, has signed a six-year lease for 38,244 square feet on the third floor. Both companies will occupy the space in August.
“KDC was able to accommodate our growth and coordinate the logistics and technical needs of two offices that will be located across the street from each other,” said Paul Malton, vice president, property for Dr Pepper Snapple Group. “The new office will be a natural extension of our current operations and our employees are looking forward to the redeveloped campus environment.”
Occupying 12,683 square feet is Group360 Inc., a provider of business process management. The company leased 5,800 square feet in 2007 for a regional office, and then entered into a four-year lease for the additional space. Group360 will occupy the space in mid July.
Other newly signed tenants include MarketNet, a full service interactive design and development company, and Teleca USA Inc., a supplier of software to mobile phone companies. MarketNet has signed a five-year lease for 10,185 square feet and Teleca USA has signed a five-year lease for 7,800 square feet.
“We are excited about the interest that the market is showing in the project since we’ve completed the latest phase of redevelopment,” said John Brownlee, senior vice president at KDC. “We are providing these tenants with a great environment and amenity package that is truly unique in the Dallas-Fort Worth market.”
KDC, along with three other real estate investment groups, purchased The Campus at Legacy (formerly the EDS campus) and other EDS real estate assets in October 2005. The transaction included the purchase of approximately 2.75 million square feet of real estate for $217 million. It was one of the largest transactions worldwide in 2005 involving multiple office properties.
Following the transaction, KDC announced it would redevelop the 107-acre campus site. Then the company renamed it “The Campus at Legacy.” KDC redesigned the lobby and common areas, added more parking, and enhanced the entrances to the campus and the exterior buildings. Plans are underway to add a Café and Fitness Center to the 5320 Legacy Drive building.
According to Brownlee, The Campus at Legacy has 900,000 square feet of contiguous space available; making it the largest block of class A space in Dallas/Fort Worth. 5360 Legacy has 100,000 square feet available, including a 40,000-square-foot block and two 23,000-square-foot blocks, as well as small pockets. 5340 Legacy and 5320 Legacy each have 400,000 square feet of office space available.
About Koll Development Company
Koll Development Company (KDC), one of America’s leading commercial real estate firms, 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 www.kdc.com