Newsletters

KanAm Grabs Denbury Twin to Secure Campus

PLANO, TX-KanAm buys the 102,600-sf Denbury Park II within 15 months of getting the first deed. A 10-year lease underwrites the win, costing more than $200 per sf to pin down.

By Connie Gore | Updated on June 17, 2008

PLANO, TX-With 15 months invested into the play, KanAm Grund has taken full control of Denbury Resources Inc.’s class A headquarters complex in Legacy Business Park. The 102,600-sf Denbury Park II, like its twin, is fully leased to the oil and gas company for another 10 years.

Todd W. Savage, managing director for Holliday Fenoglio Fowler LP in Dallas, tells GlobeSt.com that the German fund was the highest bidder in the select group of buyers jockeying for Denbury Park II at 5160 Tennyson Pkwy. He says KanAm also was the logical choice since it had bought Denbury Park I at 5100 Tennyson Park in February 2007 from Sandler Southwest of Dallas.

KanAm wrested Denbury Park II from its developer, Koll Development Co. A confidentiality clause bars Savage from discussing the price although sources have confirmed that it traded for north of $200 per sf. Collin County has the 5.1-acre Denbury Park II assessed at $15.68 million or roughly $153 per sf. In contrast, the 7.5-acre Denbury Park I is assessed at $21.17 million or nearly $207 per sf, which most likely accurately reflects its 2007 sale price.

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? Sign In Now

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.

Resource Center

CRE strategies and business decisions are only as strong as the data that powers them, and that data better be correct. This self-assessment will help you gauge your current data management capabilities.

Assessment

Sponsored by Cherre

Data Management Scorecard: A Health Check for Your Data Management Capabilities and Challenges

CRE strategies and business decisions are only as strong as the data that powers them, and that data better be correct. This self-assessment will help you gauge your current data management capabilities.

Browse More Resources ›

CRE strategies and business decisions are only as strong as the data that powers them, and that data better be correct. This self-assessment will help you gauge your current data management capabilities.

Assessment

Sponsored by Cherre

Data Management Scorecard: A Health Check for Your Data Management Capabilities and Challenges

CRE strategies and business decisions are only as strong as the data that powers them, and that data better be correct. This self-assessment will help you gauge your current data management capabilities.

Browse More Resources ›

Does your data inspire confidence or is there a significant lack of trust in its validity? Use this assessment to gauge where your organization’s data practices are at today and what gaps exist.

Assessment

Sponsored by Cherre

Enabling Stakeholder Confidence in Your Data: A Self-Assessment for Real Estate Organizations

Does your data inspire confidence or is there a significant lack of trust in its validity? Use this assessment to gauge where your organization’s data practices are at today and what gaps exist.

Browse More Resources ›

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

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