JV Leases Out 133,400 SF in Dallas
- Jan 15, 2009
A joint venture between KDC and Spear Street Capital has leased 133,400 square feet to four companies at the redeveloped 1.2 million-square-foot Campus at Legacy in Dallas.Bear Transportation Services L.P. signed a 81,100-square-foot lease at 5340 Legacy Drive. The company plans to move into its new location in spring and will occupy two full floors. “Since May 2008, we have leased more than 245,000 square feet at The Campus at Legacy,” John Brownlee, senior vice president at KDC noted in a release. “Activity took off as we were finishing the renovation of 5360 Legacy Drive and opened up the space to tenants of all sizes. Now, with 5360 Legacy Drive near full occupancy, we have commenced construction to renovate the lobby and common areas of 5340 Legacy Drive to accommodate Bear Transportation.” The renovation of 5340 Legacy Drive also includes the addition of a new fitness center, cafe and conference center.Moreover, St. Jude Medical’s Neuromodulation Division signed a long term lease for 42,800 square feet at the property. The firm plans to occupy the entire second floor of the three-story building later this month. Also at 5360 Legacy Drive, Pharmaceutical Strategies Group signed a five-year lease for 3,700 square feet. The company leased space at the campus on an interim basis and moved to its new space in December. And moving into the vacated space will be Splunk Inc., a San Francisco-based IT company, which has signed a five-year lease for the 5,800 square feet. The Campus at Legacy features three 400,000-square-foot-office buildings on a 107-acre site. The leases bring occupancy at the 5360 Legacy Drive building to 84 percent and open the 5340 Legacy Drive building as the second multi-tenant building at The Campus at Legacy. Frank Ricca with Jones Lang LaSalle represented Bear Transportation Services. Randy Garrett with Transwestern represented St. Jude Medical. Bo Estes and Patrick McCown with Grubb & Ellis Co. represented Splunk, Inc. Dale Ray with Peleton Real Estate Partners represented Pharmaceutical Strategies Group. KDC acquired The Campus at Legacy in 2005. Following the transaction, KDC announced it would redevelop the 107-acre campus site. The Campus at Legacy now has 700,000 square feet of contiguous space available, making it the largest block of Class A space in Dallas/Fort Worth.