Tuesday, March 31, 2015

Liberty Mutual Insurance in talks to lease big Plano office block

LIberty Mutual is in talks to rent a large block of office space at 3905 North Dallas Parkway in Plano.
LIberty Mutual is in talks to rent a large block of office space at 3905 North Dallas Parkway in Plano.

Boston-based Liberty Mutual Insurance is in talks to rent a Plano office building.
The office space on the Dallas North Tollway would house hundreds of workers for the insurer while its planned Plano headquarters campus is under construction.
Liberty Mutual plans to lease about 160,000 square feet of office space in the 3905 North Dallas Parkway building located near Windhaven Parkway, real estate brokers who are tracking the deal say.
The 2-story brick and glass office building is just south of where Liberty Mutual plans to build a two-tower campus in the Legacy business park.
The insurance company has notified workers that it plans to relocate people to Plano as part of a nationwide consolidation of operations.
Developer KDC plans to build the new insurance company offices which would house several thousand workers.
The Plano city council plans to vote next month on economic incentives to support Liberty Mutual‘s new operation.
The first of the insurance company‘s employees are scheduled to start work in Plano in January.
Liberty Mutual representatives have declined to confirm its Plano plans with The Dallas Morning News. They told The Boston Globe about plans to locate a call center in Plano after saying last week there was no such operation in the works.
Real estate brokers say the call center operation is just a small part of what the company plans here and they are still trying to keep the project under wraps. But word of the development is widespread in the real estate community.
Plano city representatives would not confirm pending plans to vote on economic incentives for the Liberty Mutual project, saying they don’t have to disclose “matters related to economic development.”
Steve Brown, The Dallas Morning News