Advanced Neuromodulation Systems, a division of St. Paul-based St. Jude Medical Inc., inked a long-term lease for the entire second floor at 5360 Legacy Dr., one of three 400,000-sf, class A office buildings on the 107-acre campus. The triple hit pushes occupancy to 84% and nudges the owner, Dallas-based Koll Development Co., to begin planning to "break the second building for multi-tenant use," John Brownlee, KDC's senior vice president and partner, tells GlobeSt.com.
The other wins for EDS' former campus are five-year leases for Pharmaceutical Strategies Group of Plano, which took 3,700 sf, and Splunk Inc., a San Francisco-based IT company signing for 5,842 sf. "We feel lucky because we have really good activity," Brownlee says, "and we really have a lot in the pipeline."
In 2006, KDC built a 145,000-sf headquarters building at 6901 Preston Rd. for ANS, which was represented in its yearlong search for expansion space by Randy Garrett, a principal of Transwestern Dallas. "Koll has an outstanding project at Campus at Legacy, but there were so many opportunities in the market that they wanted to scour the market for the best opportunity. They chose the Campus at Legacy," Garrett says.
Garrett says the short list was down to four buildings, with the win going to the one that needed minimal finish-out. "It was configured the way we wanted it," he says. A January move-in is planned.
"That basically fills up the last big chunk in that building," Brownlee says, telling GlobeSt.com that the 400,000-sf building at 5340 Legacy Dr. will undergo retooling of the lobby and common areas in the coming months "to get it ready" for multi-tenant occupancy. Campus at Legacy's quoted rate is $21.50 per sf plus electric, with tenant-improvement allowances set deal by deal.
Dale Ray, a new principal of Peloton Real Estate Partners in Dallas and former leasing director of Jones Lang LaSalle's Dallas team, represented Pharmaceutical Strategies Group, which had been using the 5,842-sf office on an interim basis until its 3,700 sf is ready to light. It's planning to set up the permanent shop in mid-December, with the move taking the team just right across the hall.
When the pharma group's move is done, work begins on the empty space for Splunk, a 750-employee company with offices also in Europe and Asia and one of Deloitte's 2008 Fast 50 Rising Stars. Grubb & Ellis Co. senior vice president Bo Estes and senior associate Patrick McCown, both in the Dallas office, represented Splunk, which has moved into temporary space on the campus until its office is ready to use. Brownlee estimates the move will be made within 60 days.
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