KDC HOLDS GROUNDBREAKING CEREMONY AT 17-ACRE MASTER-PLANNED PROJECT
Construction to begin immediately on first office building, adjacent to Dunwoody MARTA station and to be leased by State Farm
DUNWOODY, GA – May 15, 2014 – KDC today held a groundbreaking ceremony at Park Center, its new 17-acre master-planned project in the Perimeter Center area of Dunwoody, Georgia. State Farm will lease 585,000 square feet in the development’s first office building.
“We are honored that State Farm entrusted KDC to develop another office campus for its highly valued work force,” said Steve Van Amburgh, chief executive officer, KDC. “We plan to create an environment that offers employees direct access to residential, shopping and dining, in a pedestrian-friendly environment.” Renderings of the building design can be viewed here.
The first office building at Park Center, to be leased by State Farm, consists of a 13-story building situated on a seven-level parking structure with ground floor retail space. The Class A building is located on a nearly 4-acre site at Hammond Drive and Perimeter Center Parkway, adjacent to the Dunwoody MARTA station.
“We are pleased to be part of this collaborative project as we expand to a multi-functional facility in metro Atlanta,” said Mary Crego, senior vice president, State Farm. “This is one of many changes to position State Farm to meet the evolving needs of our customers.”
The new Park Center facility will serve as part of the Atlanta hub, housing employees who will work collectively across several functions to serve customers. These functions will be staffed by a combination of new hires and existing employees. State Farm currently employs approximately 5500 people in the metro Atlanta area. In the coming years, State Farm will have approximately 8,000 employees in the metro Atlanta area.
“State Farm’s decision to expand its presence here is a testament to our state’s competitive business environment,” said Gov. Nathan Deal. “One of the leading insurance providers in the nation, State Farm will benefit from Georgia’s pro-business infrastructure, and our highly skilled workforce will help the company continue to provide the highest levels of customer service to policyholders. I welcome State Farm’s expansion in Metro Atlanta and thank them for bringing thousands of additional good jobs to Georgia.”
“The KDC project and State Farm’s entry into the City of Dunwoody are game-changers for the entire north metro Atlanta region,” said Dunwoody Mayor Michael Davis. “This high-quality development strengthens Dunwoody and the central Perimeter area as Atlanta’s largest office market. I’m confident State Farm will find Dunwoody’s location, amenities and proximity to superior transportation resources valuable as it seeks qualified employees from throughout the region.”
The office tower is slated for late 2016 occupancy. KDC plans to achieve LEED® Silver certification from the U.S. Green Building Council. LEED is an internationally recognized green building certification system, providing third-party verification that a building was designed and built using strategies aimed at improving overall performance and sustainability.
“This is an exciting day for KDC, as we officially break ground on the much anticipated transit-oriented development and new home for State Farm,” said Larry Wilson, KDC. “Our focus is on creating an attractive, walkable community in which employees and residents are connected to daytime and nighttime activities, with easy access to MARTA. We plan to create a true sense of place that promotes an active and thriving environment.”
In February 2014, KDC announced plans to develop a transit-oriented development in Dunwoody and State Farm’s intention to lease 585,000 square feet in the first office building.
The first phase of KDC’s development will include the 585,000 square feet of State Farm office space, 17,000 square feet of retail and restaurants, and a 175-room hotel. At full build out, the transit-oriented development will include 2.2 million square feet of office space, 100,000 square feet of retail, restaurants and entertainment, and a 175-room select service hotel. Cooper Carry & Associates is the shell building and interiors architect. Holder Construction Company is the general contractor for the project.
KDC also is developing four office buildings, in which State Farm is leasing 2 million square feet, at its CityLine mixed-use project in the Dallas suburb of Richardson.
KDC, one of America’s leading commercial real estate development 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 Houston. For more information, please visit kdc.com.
About State Farm®
State Farm and its affiliates are the largest provider of car insurance in the U.S. and is a leading insurer in Canada. In addition to providing auto insurance quotes, their 17,800 agents and more than 65,000 employees serve 81 million policies and accounts – more than 79 million auto, home, life and health policies in the United States and Canada, and nearly 2 million bank accounts. Commercial auto insurance, along with coverage for renters, business owners, boats and motorcycles, is also available. State Farm Mutual Automobile Insurance Company is the parent of the State Farm family of companies. State Farm is ranked No. 44 on the Fortune 500 list of largest companies. For more information, please visit http://www.statefarm.com.