Fitness firm Peloton has expanded their North Texas footprint at Legacy Central in Plano, adding more than 100,000 square feet of space for a total of 131,268 square feet. Peloton initially moved into the Legacy Central space in 2018 after selecting Dallas as a key regional hub with site selection guidance from CBRE Labor Analytics and again partnered with CBRE to explore their options before expanding.
“Our new building at Legacy Central helps our goal to be the best place to work and will be reflective of our collaborative culture,” said David Deason, senior vice president, real estate, Peloton. “The new additions to the space include a state-of-the art fitness center, wellness and mother’s rooms, and the first ever Peloton corporate training hub to make sure we continue to deliver best-in-class experiences for our members.”
Baron Aldrine, executive vice president with CBRE and his team, along with Michael Conner, first vice president, CBRE Labor Analytics, represented Peloton in lease negotiations. Nathan Durham and Duane Henley with Transwestern represented the landlord, Regent Properties. Conner and CBRE’s Labor Analytics Team assisted Peloton with the labor analysis that led them to North Texas.
This expansion will allow Peloton to hire up to 1,600 new employees across member support, sales, people, field operations, and other corporate functions, from business leaders to managers and entry-level employees. New York-based Peloton’s expansion strategy focused on determining the best market in the U.S. that could deliver an ample supply of labor and meet the company’s need for highly skilled talent.
The assessment of the Plano and overall Dallas-Fort Worth market performed by CBRE Labor Analytics evaluated the concentration of critical labor pools to determine if the market could support Peloton’s growth as they look to hire senior-level talent in departments including customer service, sales, finance, human resources and legal.
“Our analysis showed that Plano scores well above the national average across most categories,” said Conner. “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 will remain in their current offices with the additional square footage located in an adjacent one-story building. They plan to occupy the new space in the summer of 2021.
“One of the biggest initial draws to the space at Legacy Central was that it gave them the ability to quickly expand when the company was ready to do so,” said Aldrine. “All of the reasons Peloton initially picked Plano have proven to be a fantastic decision for the company. I’m thrilled that we were able to assist them in their expansion as they continue to innovate and grow as a company.”
Legacy Central is an expansive 85-acre campus with nearly 1 million square feet of office space. The lease brings the campus to 80 percent occupied. Legacy Central offers a long list of amenities that include a 25,000-square-foot wellness center, a 15,000-square-foot conference center with tenant lounge, a 400-seat farm-to-fork food hall and a network of Wi-Fi-enabled collaborative courtyards.
“Our sole focus is to provide a first-class, highly amenitized experience to our tenants,” said Matthew Benbassat, chief operating officer at Regent Properties. “When a tenant as great as Peloton chooses to expand its footprint at our campus, we are extremely proud that the company continues to put trust in us, and we will continue to deliver a great experience for them.”