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Altair Global to Relocate, Expand Dallas-Area Headquarters

Mobility Services Company Lands Incentives from Frisco Development Agency
October 11, 2018
A newly added office building, left, at Hall Park in Frisco, Texas, will reach 80 percent occupancy with the addition of Altair Global. Photo courtesy Cushman & Wakefield.

Texas firm Altair Global, which provides mobility services to corporate clients and their employees, is doing some relocating of its own by moving its Dallas-area headquarters further northward from Plano to Frisco, one of the fastest-growing municipalities in the United States.

The company has signed a lease totaling 64,949 square feet of office space at 3201 Dallas Parkway in Frisco's Hall Park. With this lease, the office building, which was completed earlier this year, will reach 80 percent occupancy.

The company, which has 300 employees in its Plano office, already sits 22 miles north of downtown Dallas. With the move, Altair Global will shift another two miles north to Frisco, which the U.S. Census Bureau says is one of the nation's fastest-growing cities. Frisco's trajectory is tied closely to new jobs and an expanding population centered on Plano's Legacy Business Park, as well as big office moves from companies such as Jamba Juice and Equinix.

The high-end, sprawling office park will help accentuate Altair Global's culture, ultimately translating into a better experience for the firm's customers, said Chad Sterling, the firm's chief executive officer, in a statement.

"This decision will allow everyone at Altair Global to bring their best selves to the workplace and will extend to our customers, many of whom are challenged with being transferred across the world, often facing incredible logistical challenges under short time frames," Sterling said.

He also said the supportive Frisco community will help bolster the company moving forward.

Last month, the Frisco Economic Development Corporation approved an economic incentive deal with Altair Global. The deal, approved by the organization's board of directors on Sept. 19, is a potential incentive totaling $237,800 over a six-year period, which requires the company execute a lease agreement of at least 120 months, spend $3.78 million on real property improvements, have at least $2.52 million in business personal property, and relocate or create at least 361 full-time jobs.

The incentive deal requires Altair Global to have continuous occupancy of the lease premises over the six-year period, officials said.

The Frisco relocation will increase Altair Global's overall North Texas footprint. Currently, the company leases 59,278 employees on the first three floors of 7500 Dallas Parkway in Plano, according to CoStar data.

Cushman & Wakefield's Maureen Kelly Cooper, who helped with the firm's real estate search, said Altair Global undertook an extensive site search before determining Hall Park would be the ideal location with its amenities and ability to create a workplace from the ground up to capture the company's brand.

By choosing Hall Park's newly completed office building, brokers added, Altair Global landed some of the latest amenities to help with recruitment and retention of its employees. Some of those desired amenities include a fitness center, an event lawn with outdoor grills and recreational space, outdoor meeting spaces, conference centers, and restaurants within walking distance.

Other tenants of 3201 Dallas Parkway include Wintrust Commercial Finance, Brennan Wealth Advisors, Origin Bank and Serendipity Labs. Developer Craig Hall, the mastermind behind Hall Park, has a financial stake in Serendipity Labs, which has begun expanding in the region from its foray at KPMG Plaza at Hall Arts in downtown Dallas.

Kim Butler, the director of leasing for Hall Group, the parent company of Hall Park, said she was especially delighted Altair has decided to relocate its own business to Hall Park, given the company's expertise in helping corporate clients relocate their businesses.

"They will be an exceptional company to have at the park, as well as in Frisco, and we look forward to seeing them continue to grow," Butler added.

Altair Global plans to move to Hall Park by early fall of 2019.

This is the latest in a string of corporate moves to Frisco. Financial technology company Fiserv plans to move 600 of its employees to the North Texas city as part of a big regional consolidation and Brierley+Partners plans to relocate from Plano to Frisco Station to take advantage of its ground-up wireless technology. The addition of the three companies helps ensure Frisco will continue to rank high among the list of fast-growing U.S. cities.

Hall, the developer who began developing Hall Park years before it became in vogue, has plans to add a Klyde Warren-style park to connect the mixed-use development to The Star in Frisco and the Dallas Cowboys headquarters and practice facility.

For the record
Randy Cooper, Maureen Kelly Cooper, Dean Collins and Emily Hoffman of Cushman & Wakefield represented Altair Global in its real estate search, while Kim Butler, Cynthia Cowen and Brad Gibson of Dallas-based Hall Group represented the landlord.

Candace Carlisle, Dallas-Fort Worth Reporter  CoStar Group   
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