Business

For lease: 135,000 square feet at Lexmark

A major piece of commercial office space is about to open up in north Lexington. Lexmark International has consolidated space and made 135,000 square feet available for lease.

"This is an impact project for the community," said Tim Haymaker, whose Haymaker Bean Commercial Real Estate is serving as one of the brokers for the property. "You can bring in some seriously attractive tenants, which is exactly what we need right now."

Depending on the configuration, he said, a company locating in the space could bring nearly a thousand jobs.

Haymaker Bean is serving as co-broker with the Chicago office of multinational firm CB Richard Ellis.

The space is available inside Lexmark's Building 200, which is across New Circle Road from its main office. The company's goal is to move most of its operations to its main campus. Lexmark has a great deal of space as the site was once its primary manufacturing and distribution facility but it has moved those functions overseas, like its competitors, in recent years.

"We have gradually been consolidating and converting that under-utilized space into office space," said Steve Davis, Lexmark's director of real estate.

The space available is a full floor and three-quarters of another, Haymaker said, as well as some additional space for storage on a lower level.

Haymaker said finding such a large floorplate is rare, noting that competing openings in other parts of Lexington have space spread out over several floors, much like the the Chase Bank building downtown, which has more than 100,000 square feet available over five floors.

The building is also home to IBM, which has rented space there since Lexmark was spun off from it in 1991. Lexmark will also retain some space there but will house the majority of its operations on its main campus.

The space is similar in scope to a conceptual plan that has been discussed for the site of the closed Turfland Mall on Harrodsburg Road. Rubloff Development Group, which owns the mall, has put together a plan that would transform the site into primarily large-footprint commercial office space, as well as some retail and residential space.

Jeff Stidham of Stidham Commercial Partners, which is serving as Rubloff's office space broker, said he doubts the Lexmark space would have an impact on the project. "It's separate markets and a separate kind of building," he said. "Turfland is a true lifestyle development."

He called the Lexmark space a good idea, saying, "it's a good location, and I think it brings more of that open floorplate, large footprint space to the market."

"And we don't have a lot of that," he added.

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