Sources confirm for GlobeSt.com that the Atlanta-based home improvement giant is undertaking a multimillion-dollar upgrade to customize an already state-of-the-art center at 16675 Addison Rd., part of a two-building complex vacated by VarTec Telecom Inc., which had inherited it from its wholly owned subsidiary, Excel Telecommunications Inc. The center will service the entire Central US.
Sources say talks began shortly after SPI Holdings LP, headquartered in Dallas and San Francisco, bought the complex in late March from VarTec. The lease included a plug 'n play scenario with 800 workstations and seating for 1,100 employees. The two-story building, featuring a 6,900-sf dining room, also is outfitted with a ready-to-go, 5,348-sf data center, back-up generator and 950 parking spaces in a campus setting adjacent to Addison Airport and just a block west of the tollway. The nine-year-old building was renovated three years ago.
According to sources, Home Depot looked at several US and Canadian cities before zeroing in on Addison I. A local team with Trammell Crow Co. led the site search. Street talk is SPI principal Richard Squires was soloing on the talks until recently when he hired Peloton Real Estate Partners, which is now marketing Addison II, a 181,946-sf flex office building at 4550 Excel Pkwy.
Sources say Addison II, just like its kid sister, is being sized up by several tenant prospects. Tailored for back-office space, the two-story building is on the market as a plug 'n play pickup, with 289 workstations, phone and security systems and 599 parking spaces and enough room to add nearly 200 more. VarTec just vacated the building, also built in 1996, in the past month.
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