Search
 

Galderma Campus Getting 50,000-SF Expansion

FORT WORTH-Ground breaks Friday on the two-story office building, a mirror image from the outside of the company's existing HQ. Delivery is planned for January 2009.

By Connie Gore | Updated on April 23, 2008

FORT WORTH-Galderma Inc. is doubling its headquarters location with a 50,000-sf value-office project in AllianceTexas. Based on today’s construction pricing, comparable space would cost $140 per sf to $150 per sf to bring out of the ground.

Duke Realty Corp. Friday will break ground on the two-story build-to-suit for Galderma, which bought a 3.7-acre tract last month from Hillwood. The office project will be connected to Galderma’s 50,000-sf headquarters at 14501 N. Freeway and adjacent 70,000-sf distribution center by a covered walkway. Delivery is set for January 2009.

“They’re a growing business and they’re buying businesses,” says Blair Oden, vice president in Dallas for Indianapolis-based Duke. He says Duke’s team was invited to the bidding party after higher-than-anticipated prices started to roll in for the build-to-suit. “We entered the game late. We priced it exactly the way they wanted it,” he tells GlobeSt.com, adding the final offer in the competitive showdown was “within pennies” of a “back-of-the-napkin” estimate that earned the invitation.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.