KDC LEASES ADDITIONAL 123,716 SF OF OFFICE SPACE AT THE CAMPUS AT LEGACY IN PLANO TO LEADING OIL AND GAS COMPANY
Company to occupy 500,000 square feet, making it the largest D-FW office lease this year
Plano – June 22, 2012 – KDC has leased an additional 123,716 square feet of office space to Denbury Resources Inc. (NYSE: DNR), a growing independent oil and gas company, at The Campus at Legacy in Plano. Denbury also extended the term of its current lease that commenced in 2010. The expansion includes the space at 5360 Legacy Drive that will be vacated by Safety-Kleen this fall.
Denbury will now occupy a total of approximately 500,000 square feet of office space at The Campus at Legacy for its corporate headquarters. Denbury combined three office locations into a single location when it moved to The Campus at Legacy after acquiring Encore Acquisition Company in 2010.
“Denbury is a dynamic company and we’re thrilled to have their headquarters at The Campus at Legacy,” said John Brownlee, executive vice president, KDC. “We began re-tenanting the former EDS complex in 2008 after re-developing and rebranding it. This lease takes us to over 1 million square feet of new lease deals since we began that effort and maintains our 95 percent occupancy. It’s gratifying for the project to have been so well received by the market.”
Jeff Ellerman, vice chairman of CB Richard Ellis, negotiated the lease on behalf of Denbury. John Brownlee negotiated the lease on behalf of KDC and its partner, Spear Street Capital.
“It worked out great that Denbury was able to meet their growth needs in the adjacent building at the Campus at Legacy in the space Safety Kleen is vacating,” said Ellerman. “Legacy is tightening up and the large contiguous blocks of space are hard to find let alone right next door. We were able to structure an attractive transaction that made sense to all parties.
The Campus at Legacy is located within Legacy Business Park in Plano. The 107-acre project consists of three buildings in a 1.1-million-square-foot campus setting with amenities including a fitness center, cafés, a conference center and ample covered parking. The Campus is located just minutes from Legacy Town Center, one of the nation’s premier mixed-use life style centers.
The Campus at Legacy is home to other leading companies including PepsiCo, Dr Pepper Snapple Group, Rent-a-Center and St. Jude Medical, to name a few.
KDC, one of America’s leading commercial real estate and investment companies, provides a full range of commercial real estate services including corporate build-to-suit development, acquisitions, corporate facility project/construction management, project financing, asset and land management, and marketing and leasing. KDC is headquartered in Dallas and has offices in Atlanta; Austin, Texas; Charlotte, N.C.; and Detroit. For more information, visit kdc.com.
About CB Richard Ellis
CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2009 revenue). The Company has approximately 29,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. CB Richard Ellis has been named a BusinessWeek 50 “best in class” company for three years in a row. Please visit our Web site at www.cbre.com.