Conifer Launches Construction on 200,000 SF

FRISCO, TX-Conifer Health Solutions has solved its problem of too little space and expansion by launching construction on its new headquarters and service center. The 200,000-square-foot build-to-suit will be ready for move-in by Q1 2014.

Steve Thelen and Bo Bond with Jones Lang LaSalle tell GlobeSt.com that Conifer examined a few options before deciding to place its new headquarters building within Duke Bridges Office Park, at the intersection of the Dallas North Tollway and Warren Parkway. One such option included taking down more space at Conifer's current location. The company currently leases 100,000 square feet at Hall Office Park at 2401 and 2811 Internet Blvd.

Ultimately, "at the end of the day, given the functionality of the location and economics, it made sense to build there," says Thelen, who, with Bond and JLL's Rachel Brown, Torrey Littlejohn, Vince Burt, Jeff Davis and Angela Carrier, helped broker the transaction. Adds Bond: "We looked not only in the greater DFW area, but in other parts of the country as well." Both brokers point out that Conifer's decision to remain in Frisco was employee-driven.

Duke Realty is developing the facility for Conifer; the asset will include an employee training center, a conference center and a parking garage. Corgan is the architect of record on the project.

Thelen and Bond acknowledge that office space is tight in the Frisco/West Plano submarket, mainly because companies are attracted to the highly educated workforce that dwells there. As such, "there isn't much to pick from, and no speculative development during the past five years," Thelen observes.

The duo couldn't speak specifically as to what will happen to the space that Conifer will vacate at the beginning of next year. "The landlord will likely offer it for lease, and based on the activity in that submarket, they'll have a number of suitors. The park is 100% full; there will be demand for the space."