The initial plan for a one-stop leasing shop was changed so thatmarket presence can play into the decision. "We will look at them[CBRE] first," Jake Ragusa, Koll's senior vice president andmastermind of the development, tells GlobeSt.com, but adds that theleasing assignment won't be a given. CBRE does have a presence ineach of the targeted 10 Intellicenter markets soit conceivably could end up with the entire 1.5-million-sfassignment, he explains. Dallas-based Koll's JV backer on thehighly specialized development is the Newark-headquarteredPrudential Real Estate Services.

CBRE was up against several other nationwide brokerage housesfor the initial assignments. "We like CB because they have a verystrong people in place in all the target markets that we'veidentified," says Mark Cashman, Koll's senior exec leadingnegotiations for development sites.

The Dallas building, set to break ground in early tomid-February, will be leased by Dennis Barnes and Randy Cooper. The200,000-sf project will rise on 14.8 acres in Regent Center inIrving.

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.