Though the credit reporting company's lease in the space at 601 and 701 Experian Pkwy. wasn't up until 2010, Ronda Clark, executive vice president with Jones Lang LaSalle's Irvine, CA office says the tenant wanted to get a jump on things. "When it's this large a facility, it's better to start working on those things earlier," comments Clark, who represented Experian.
Clark worked with managing director Larry Toon and executive vice president Bo Bond of Jones Lang LaSalle's Dallas office, and executive vice president Wade Clark and associate Matt Osborn, both of whom are based in Irvine. Also on the tenant representation team were Jones Lang LaSalle's managing director Grant Freeman and executive vice president Joel Jaffe, who operate out of the company's headquarters in Chicago. James Dudley, vice president with Lexington Realty Trust provided in-house representation for the owner.
A spokeswoman with Experian says a lot of options were considered for the regional operations, including moving into available space. "We also have another facility in McKinney (Texas), a data center," The spokeswoman tells GlobeSt.com. "There's some property adjoining that. One of our considerations was building new space for ourselves on that property."
Ultimately, many reasons prompted Experian's management to remain in the Allen facility. The spokeswoman says the inconvenience of a move was one factor. Another factor was that the company has a good relationship with the Allen business community. "We have great employees in the area who are attached to this facility," she notes. "We didn't want to disrupt their work."
The asset is about 25 miles north of Dallas and consists of two office buildings on 26.5 acres. Building 601 measures 110,300 square feet, while building 701 has 182,400 square feet. Dallas-based Lexington Realty acquired the facility in 2005.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 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.
