With fitness platform Peloton growing in popularity nationwide, especially with a boost provided by the coronavirus pandemic, the firm is quadrupling its office space usage in the DFW suburb of Plano.
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The New York City-based company announced plans to grow its North Texas office footprint at Legacy Central in Plano from 27K SF to 131K SF.
That expansion allows Peloton enough room to hire up to 1,600 new staff members, all of whom will work in the areas of member support, sales, field operations and general corporate operations.
Peloton moved some of its business support functions to Plano's Legacy Central development off Central Expressway two years ago after analyzing North Texas as a region with the type of workforce and demographics needed to support future corporate growth.
“Our analysis showed that Plano scores well above the national average across most categories,” CBRE Labor Analytics First Vice President Michael Conner said in a statement. “In addition to a strong supply of individuals with the skills needed to support the company’s growth, Plano’s higher population growth and higher concentration of bachelor’s and master’s degrees positions it well for long-term sustainability of key talent.”
Peloton hired Conner and CBRE's Baron Aldrine to handle lease negotiations on its behalf, while Transwestern's Nathan Durham and Duane Henley handled negotiations for landlord Regent Properties.
Legacy Central is an 85-acre campus with 1M SF set aside for office tenants. With this expanded Peloton lease, the campus is 80% occupied.
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