The Las Colinas Highlands, owned by Macfarlan Real Estate Investment Management of Dallas and RREEF America LLC, actually won the nod six months ago for the publicized signing a week ago, Jay Ballou, senior vice president of Dallas-based WorkPlaceUSA, confides to GlobeSt.com. A WorkPlaceUSA team has been working with LSG Sky Chefs for three years as talks probed all alternatives and then fell silent for months in the aftermath of Sept. 11 due in part to LSG Sky Chefs' role as a caterer to 260 airlines in 45 countries.
What started out as one headquarters division heading into the Macfarlan building ended with two after interior design teams came up with a configuration that worked at 6200 Longhorn Dr. The decision, Ballou says, was made "at the 11th hour and 59th minute" in the final days of 2002. The bottom line ended up 20,000 sf less than the corporation had been trying to find in the Dallas-Fort Worth metroplex for the LSG Global Operations Center and Americas regional headquarters. LSG Sky Chefs is holding an option for more space, if needed.
The LSG Sky Chefs lease at 524 E. Lamar Blvd. expires April 30 so the plan is to get the tenant improvements done and the move completed to meet the deadline. The divisions will be set up on the top three floors of a seven-floor building delivering the key deal makers: a high-profile image and airport proximity. The leased area also includes 75% of the first floor, part of which will be converted into a state-of-the-art test kitchen.
Ballou says he can't disclose the per sf rate that won the deal. But, he acknowledges "it's win, win, win. We're pleased with the economics of the deal. The owner is pleased and the tenant is pleased."
The WorkPlaceUSA team was led by John T. Amend, president and CEO and included Audrey Cauthen, vice president. Todd White of Macfarlan Real Estate Investment Management and Tim Keith of RREEF America were the representatives for the joint venture owners. In addition to brokerage and design, WorkPlaceUSA is steering the relocation project through the turning over of the keys to division heads of the 400-employee LSG Sky Chefs.
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