Dex Media

Client Situation

Dex is a key subsidiary of North Carolina-based R.H. Donnelley (RHD) of which Savills Studley was the exclusive national real estate services advisor. After RHD acquired Dex in January 2006, the company tasked our firm with finding a solution for Dex’s space requirements that support the pace of the ever-evolving online and print search industry.

Consideration Analysis

For 15 years, Dex was headquartered at 198 Inverness Drive West in Denver with a major presence in another building at 3190 S. Vaughn in Aurora.  Because of the size and operational needs of Dex, we addressed this challenge by identifying several solutions in various geographic locations and in a variety of configurations. In a comprehensive 18-month evaluation of Dex’s real estate portfolio and future corporate goals, our firm identified Dex’s employee transportation patterns as a key factor in the relocation. In addition, proximity to key customers was another driver in the process. Several existing buildings and build-to-suit options were evaluated.

Result

About 1,000 Denver-area employees moved into two new buildings totaling more than 280,000 square feet: Panorama Corporate Center IV in Englewood and One Lincoln Station in Lone Tree. Panorama Corporate Center is a four-story, 137,288-square-foot project being developed by CarrAmerica. The other location is One Lincoln Station, a mixed-use, transit-oriented development project, which offers retail, office and residential. Dex leased the approximately 150,000 square foot LEED-certified building, which also provides an under-floor air distribution systems.

The new buildings allowed for better collaboration opportunities for Dex employees in the different user groups while minimizing commute changes for employees. The buildings are also adjacent to Denver’s new 19-mile-long southeast light rail transit commuter line, enabling the employees in the two buildings to walk less than 100 yards from the front door of either building and take the light rail train 2 minutes to the other building. Dex achieved prominent building-top signage at both properties, a valuable marketing advantage due to the light rail carrying more than 38,000 passengers each day, and high visibility from the adjacent I-25 expressway.

Summary Information

  • Property: Building 1: Panorama Corporate Center IV,Building 2: One Lincoln Station in Lone Tree, Denver, CO
  • Transaction Size: 287,288 SF
  • Transaction Type: Lease Relocation
  • Service Line: Office

Meet the Team

Schuham, Rick

Schuham, Rick

Executive Vice President, Director, Central Region Lead
312.595.2913