Peloton Inks Lease for New Campus at Legacy Central in Plano, Texas
16 May 2018
Fitness Technology Company to Bring Hundreds of Jobs to DFW Area
CBRE announces Peloton, the technology company that revolutionized the fitness industry with its category-creating indoor cycling bike and its recently announced Peloton Tread, has leased 27,518 square feet of office space at Legacy Central in Plano. The Plano location will serve as a key regional campus to supplement Peloton’s headquarters in New York and will be the first member support hub located outside of New York City.
With the assistance of CBRE Labor Analytics, Peloton did an extensive evaluation of four different markets in the United States and found that the Dallas area offered the most attractive options for their operations.
“Dallas is a very important market for Peloton,” said Brad Olson, Senior Vice President, Member Experience for Peloton. “Our showroom at NorthPark Center in Dallas has been one of our top performing locations nationally since it opened in 2015. And, in just the past nine months, we opened a new showroom at Legacy West in Plano and a Field Operations site in Arlington. Plus, we have tens of thousands of Peloton members in Texas to welcome us to town.”
“Based on statistical and primary market research, combined with geographical analysis and preliminary review of real estate costs among the four markets, Dallas was the prime location to support Peloton’s operations,” said Michael Conner, First Vice President, CBRE Labor Analytics. “The quality of the workforce really sold Peloton on Dallas.”
The new Peloton campus, located in Legacy Central at 6600 Chase Oaks Boulevard, will be looking to hire up to 400 people for this location over the next few years, including member support associates and inside sales representatives. Peloton plans to occupy the space in Q3 2018.
"Dallas is a dynamic city with a number of companies looking to establish a presence,” said Noreen Mehdi Weathers, Senior Associate, CBRE. “With the backdrop of such a competitive landscape, speed to market was a priority and we drove the process through quickly identifying options that were reflective of Peloton’s innovative technology brand. Peloton will be right at home at Legacy Central."
Legacy Central is an expansive 84-acre campus with nearly 1,000,000 square feet of office space. It offers a long list of amenities that include a 25,000 square foot wellness center complete with lap pool, basketball court, private fitness studios and a rock-climbing wall, 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.
“We are delighted to welcome Peloton to our Legacy Central Campus,” said Matthew Benbassat, Executive Vice President of Regent Properties, the developer of the project. “Legacy Central is a forward thinking, technology-oriented campus designed to promote productivity through health and wellness, connectivity, and collaboration. It’s exciting to find a cutting-edge tenant who will not only be a user of all Legacy Central has to offer but will also enhance the campus.”
“Peloton is, at its core, a tech company, so we were drawn to Legacy Central as a hub for leading tech companies,” said Mr. Olson. “The fantastic amenities at Legacy Central align with our philosophy of being the best place to work in every market where we operate. We are particularly excited about the fitness center,which will soon feature several Peloton Bikes and Treads.
Mrs. Weathers and Baron Aldrine with CBRE in Dallas represented Peloton in lease negotiations. Nathan Durham with Transwestern represented the landlord, Regent Properties. Mr. Conner and CBRE’s Labor Analytics Team assisted Peloton with the labor analysis that led them to Dallas. CBRE’s Labor Analytics has a dedicated focus on labor which provided an unprecedented analytic capacity around the labor and supply and costs for Peloton’s new operation.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.