Tuesday, July 21, 2015

Geico Insurance heads to Richardson with more than 1,000 jobs

Richardson has landed another major insurance company employer.  
Geico Insurance is close to announcing plans about a move of its North Texas regional offices from Farmers Branch to the Telecom Corridor.
Geico is leasing the former Fossil headquarters on Greenville Avenue just east of North Central Expressway, real estate brokers say.
The almost 200,000-square-foot office building was purchased at the end of last year by Orlando-based CNL Commercial Real Estate Inc. The new owner converted an adjoining warehouse building into additional parking for the campus.
Geico is expected to move more than 1,000 workers into the complex at 2280 N. Greenville Ave.
The big insurance company considered multiple sites in West Plano and in the Telecom Corridor before picking the Richardson building, property brokers say.
The former Fossil office building was constructed in 1994 and expanded in 2001.  
The fashion watch and accessories firm in 2011 moved out of the building to a larger location in Richardson.
Peloton Commercial Real Estate has been marketing the building for lease.
NAI Partners and NAI Robert Lynn Co. have been representing Geico in the search for office space in North Texas.
Richardson economic development officials declined to comment on Geico’s pending move.
And Geico representatives have not yet responded in inquiries about the office plans.
Brokers say that Geico plans to sell its current office building on Spring Valley Road west of the Dallas North Tollway after it makes the move.
Maryland-based Geico will join State Farm Insurance, Blue Cross Blue Shield of Texas and Travelers as major insurance employers in Richardson.
And apartment industry serving firm RealPage Inc. last month said it was moving 1,400 workers from Carrollton to Richardson.
RealPage is taking about 400,000 square feet of office space at 2201 Lakeside Blvd. near North Central Expressway.
Allen-based telecommunications firm Frontier Communications is also looking at another large office lease in the same complex, leasing agents say.   
Steve Brown/ Dallas Morning News