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Essilor Of America Acquires Six Neighboring Properties
18 Aug, 2005, Dallas, TX
Cushman & Wakefield Assists In Unique Real Estate Strategy
Essilor, the world leader in corrective spectacle lenses, has acquired six properties surrounding its Farmers Branch, Texas, corporate office and manufacturing facility as a first step in building a new U.S. Corporate Headquarters campus. Jean Russo, senior director, and Jordan Brown from the Dallas office of Cushman & Wakefield of Texas, Inc., represented Essilor in the purchase of the six neighboring properties as well as other real estate strategies in consolidating and growing the company's presence along the I-35 corridor.
"This project has been on-going for the past 11 months," said Mike De La Vega, director of real estate for Essilor of America, Inc. "Essilor is growing at a rapid pace through the growth of such brands as Varilux and Crizal and elected to address its local real estate needs on a long term basis by choosing to build a corporate campus. We are excited that we have the opportunity to continue to grow our business within the Farmers Branch area as well as keep our manufacturing facilities in place."
The six buildings acquired by Essilor total more than 127,500 square feet. They include the following properties: 13635 N. Stemmons Freeway, 13515 Branch View, 13505-13513 Branch View, 13485 Branch View, 13455 Branch View and 13447 Branch View. Approximately 12 acres of land was also included in the acquisitions. Essilor of America is currently headquartered in a 130,000-square foot facility at 13515 N. Stemmons Freeway. The company also occupies 65,000 square feet of office/R&D/manufacturing space just one mile north of the headquarters building.
"Acquiring the six properties, involving 17 different sellers and 13 different tenants, was not easily accomplished," said Ms. Russo. "To Essilor's credit, they had the vision and resources to jumpstart a unique plan for their immediate and future growth."
Cushman & Wakefield also assisted Essilor in the lease of another 21,000 square feet of space in the nearby North Point office building located at 12005 Ford Road, which will be used as an interim office location.
Essilor is currently studying the best use of the purchased properties for its headquarters design. The company expects to grow its employee base at the new facility by nearly 400 employees.
Essilor of America is the leading manufacturer of optical lenses in the United States and is the market leader in progressive, high-index and anti-reflective coated lenses. Essilor products include Varilux®, Crizal® Alize and other Essilor brand names. Essilor employs more than 6,100 people in over 100 facilities throughout the 50 states. Essilor's Corporate Headquarters in Farmers Branch supports its national business in such fields as finance, sales and marketing, human resources, information technology and operations.
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Essilor is the leading manufacturer of optical lenses in the United States and is the market leader in progressive, high-index and anti-reflective coated lenses. A pioneer in the development and production of ophthalmic lenses, Essilor employs over 6,100 people in more than 100 facilities throughout the 50 states. Essilor manufactures optical lenses under the Varilux®, Crizal®, Airwear®, Thin & Lite® and other Essilor brand names. Essilor Laboratories of America (ELOA) is the largest, and most trusted, optical lab network in the U.S. and offers a wide choice of services and lens brands, including Essilor premium lenses, to eye care professionals across the nation. Essilor of America, Inc. (Essilor) is a subsidiary of Paris-based Essilor International, S.A., a publicly held company traded on the Euronext Paris stock exchange (Reuters: ESSI.PA).
Varilux, Crizal, Airwear, and Thin & Lite are registered trademarks and Alize is a trademark of Essilor International, S.A.
Cushman & Wakefield is the world's largest privately held real estate services firm. Founded in 1917, the firm has 175 offices in 50 countries around the globe, and 11,000+ talented professionals. Cushman & Wakefield delivers integrated solutions by actively advising, implementing and managing on behalf of landlords, tenants, and investors through every stage of the real estate process. These solutions include helping clients to buy, sell, finance, lease, and manage assets. C&W also provides valuation advice, strategic planning and research, portfolio analysis, and site selection and space location assistance, among many other advisory services. To find out more about Cushman & Wakefield, please call 1-800-376-3133.
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