Dr Pepper confirms it’s moving to a new $200 million office at The Star in Frisco | Real Estate | Dallas News
“We are excited to upgrade our Texas co-headquarters location to support the needs of our vibrant business, including enhanced technology capabilities and space to increase collaboration,” Bob Gamgort, chairman and CEO of Keurig Dr Pepper, said in a statement. “The new location at The Star in Frisco will provide a state-of the-art work environment and exciting amenities that will energize our employees and enable us to attract top talent in the area.”
The company said that Frisco Economic Development Corp. has improved an incentive package for the move.
Frisco’s city council agreed to sell the 2.5-acre building site overlooking the Dallas Cowboys’ practice field to Star developer Blue Star Land for about $600,000 – less than a fourth of the current property value.
“Keurig Dr Pepper’s decision to locate here is a huge win for the city and residents of Frisco,” Ron Patterson, president, Frisco Economic Development Corp., said in a statement. “This move will drive job growth opportunities, as well as create interest from other corporations across the nation seeking to expand and relocate their operations. As more companies move to Frisco, our residents and business community will continue to benefit.”
Construction will start on the building no later than August. Blue Star Land will partner with Dallas developer Lincoln Property Co. to build the project.
Dallas architect HKS designed the 17-story building and architect Corgan will do the interior design. The office building construction would also include additional parking for the Star.
Commercial real estate firm CBRE represented Dr Pepper in the negotiations for its new office.
“We are thrilled to see the business community at The Star continue to grow with the addition of Keurig Dr Pepper,” Jerry Jones, Dallas Cowboys owner and owner of Blue Star Land, said in a statement. “We look forward to welcoming another company with deep Texas roots working alongside us at the World Corporate Headquarters of the Dallas Cowboys.”
Dr Pepper’s building will be the second office in the Star, which also includes retail, a hotel, medical building and the Ford Stadium.
The first office building on Warren Parkway houses the Dallas Cowboys’ headquarters and is almost fully leased to companies including FM Global, Bank of America, PlainsCapital Bank and RBC Wealth Management.
Dr Pepper already has a high profile in Frisco. The beverage company is the sponsor for the Dr Pepper Ballpark, a minor league baseball stadium that’s part of Frisco’s sports and entertainment district on Gaylord Parkway near Stonebriar Centre mall.
Dr Pepper located its headquarters to Plano’s Legacy business park in 1998, where it occupies a 350,000-square-foot campus east of the Dallas North Tollway.
The Texas beverage company last year acquired by Keurig for more than $21 billion.
Keurig’s headquarters is in Burlington, Mass.
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