Case Study

Summary

One Stadium Tech Center is a 225,000 square foot, six-story office building which stands prominently at the southwest corner of Great America Parkway and Highway 237. The project is the final phase of an existing 307,000 square foot office complex which has as its major tenant Dell Inc.

Situation

  • In late 2012, Spear Street Capital acquired an existing 307,000 square foot Office/R&D project which had an entitlement for development of an additional 225,000 square feet.
  • Orchard was the development partner of the prior owner, having formed a team in 2007 to conceptualize, fully design and entitle a new six story building with podium and underground parking.
  • Spear Street Capital did not have in-house development staff to execute the project. Building code changes and market conditions necessitated a fresh look at certain aspects of the previously completed plans.

Results

  • Orchard and Spear Street entered into a agreement in which Orchard would be responsible for managing all aspects of development of the new building.
  • Working with architects and consultants, Orchard and team re-examined and updated the plans, as well as made changes necessitated by code.
  • The new building and parking structure commenced construction in April, 2014 and was completed in March, 2016.