The company states that it signed a 10-year lease for its new headquarters space at the 2.5-million-square-foot complex and will invest more than $200 million annually in the region through headcount, real estate investment and other expenses
LPC invested substantial capital into the project in not only the design features but indoor and outdoor amenities focused on health and social engagement while being mindful of the property's architecture.
The park is in close proximity to George Bush Intercontinental Airport, Interstate 45 and Interstate 59 and its vacant spaces have grade-level, semi-dock and/or dock-high loading.
Johnson, a SVP with CBRE's Philadelphia office, will be a leader at a roundtable discussion on Wednesday entitled "Practical Leasing Issues" along with co-leader Jeff Fisher of Federal Realty.
The Southern Park Mall, which is adjacent to DeBartolo Commons, is also undergoing some improvements that will include a new entertainment hub that will feature a 37,000-square-foot indoor golf entertainment center, additional entertainment uses and new food and beverage offerings.
The firm's "Bell Works" project, a 2 -million-square-foot redevelopment of the former Bell Labs' complex, reached a significant milestone with the latest lease deals—roughly 1 million square feet of office space at the complex is now leased.
Local brewers have followed a similar template to tested models, and as a result, provided desirable social settings in DFW, which will likely increase due to the passage of House Bill 1545.
"Furthermore, we expect to be able to take advantage of our heavy lease expiration cadence over the next couple of years, to close underperforming stores or relocate stores to improve sales and profitability on a per-store basis," the shareholder letter states.