KDC has sold its remaining interest in The Campus at Legacy in Plano to its equity partner, Spear Street Capital.
The companies originally purchased 2.75 million square feet of assets across the U.S. in 2005 from EDS. It redeveloped The Campus at Legacy into a 107-acre, multitenant corporate campus, with the first phase of renovations wrapped up in 2008.
Since then, KDC has leased more than 1 million square at the site, taking occupancy to about 98 percent.
“We are proud that our redevelopment efforts have been so well received by the market and of the lasting value that has been created,” said Steve Van Amburgh, CEO of KDC, in a statement. “With The Campus at Legacy well-positioned for the future, now is the right time to sell our investment and redeploy our resources to other value-add opportunities.”
Here’s a rundown on lease transactions at The Campus at Legacy, from KDC:
• Denbury Resources (375,000 square feet, later expanded to 500,000 square feet)
• PepsiCo (93,888 square feet)
• St. Jude Medical (83,000 square feet)
• Bear Transportation (81,000 square feet)
• Futurewei Technologies (50,000 square feet)
• Dr Pepper Snapple Group Inc. (42,000 square feet)
• Lifecare (36,000 square feet)
• North American Coal Corporation (38,000 square feet)
• World Ventures (38,000 square feet)
• Rent-a-Center (24,000 square feet)
In October 2012, the 375,000-square-foot 5320 Legacy building, which is100 percent leased to Denbury Resources on a long-term basis, was sold to State Farm.