The publicly traded company has taken 41,225 sf of class Aspace at 5360 Legacy Dr., one of three buildings in the retooledEDS campus, and across the street from its 300,000-sf headquartersbuilding at 5301 Legacy Dr. in Legacy Business Park. InVictorville, CA, Dr. Pepper Snapple is going ahead with its formerowner's $120-million plan to build a combo 550,000-sf distributioncenter and 300,000-sf manufacturing plant on 57 acres at theSouthern California Logistics Airport.

Both deals were in the works as Dr. Pepper Snapple's executiveteam weighed candidates for the 13.5-million-sf corporate account,say CBRE senior vice president Seth Kelly and vice president DanielRudd, who pocketed the win. Rudd tells GlobeSt.com that roughlynine million sf of the portfolio is leased space, with Kelly notingit's predominately industrial stretching from East to West Coastand some stopping points in between along the Gulf Coast andwestern inland states. In all, there are 200 locations in the US,Canada, Mexico and the Caribbean.

CBRE's Dallas-based, six-member team includes Nick Tansey, asenior vice president in Memphis where CBRE has its leaseadministration hub for the region. The corporate account, as wouldbe expected, was a sought-after assignment that in all likelihoodincluded Cadbury Schweppes' long-time holder, Cushman &Wakefield Inc. [IMGCAP(2)]"We know they looked at several othergroups," Rudd says, adding the decision-making spanned "three orfour" months. The multi-year deal involves transaction managementand lease administration.

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
NOT FOR REPRINT

© 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.