KDC Plans 250 KSF Corporate Center at Research Campus in Kentucky
- May 30, 2013
KDC wants to bring its state-of-the-art corporate campus prototype to Lexington, Ky., and the commercial real estate and investment firm is under contract with Sperry Van Ness Real Estate Advisors-Lexington to do just that. KDC is planning to develop the KDC Corporate Center, a 250,000-square-foot headquarters destination at the University of Kentucky’s 735-acre Coldstream Research Campus.
The vision for KDC Corporate Center entails multiple buildings that will sprout up on a 38-acre site within Coldstream, which sits near downtown Kentucky. Such an endeavor marks a rare opportunity in the city. “Lexington is one of the most land-constrained markets in the country and developable land is at a premium,” Jeff Stidham, a vice president with KDC, told Commercial Property Executive.
The first phase of the project will yield a 100,000-square-foot structure designed to accommodate today’s users’ needs, especially their efficiency needs. The three-story building will feature layouts that promote effective use of space and employee productivity, and it will be high on sustainability. KDC will seek LEED certification for the property, which will offer such green features as increased daylighting opportunities and an under-floor system that will allow for energy cost savings of approximately 30 percent.
The initial phase of KDC Corporate Center will kick off upon the completion of leasing agreements accounting for 50 percent of the first building. The demand for premier space, KDC contends, exists and is on the rise. “There has been no new Class A office development of this type in more than ten years and there are currently no large blocks of Class A space in the market,” Stidham added.
KDC will capitalize on Coldstream’s proximity to the University of Kentucky and the presence of the 62 businesses that currently call the campus home to reel in lease commitments. “We are targeting research and development firms with close ties to University of Kentucky,” he sconcluded. “University of Kentucky’s pharmaceutical program is world-renowned and several national firms have substantial facilities here related to medical and pharmaceutical research.”
However, KDC is casting a wide net; the developer will market KDC Corporate center to office users beyond the research and development arena as well.