Keurig Dr Pepper (KDP) on Feb. 21 confirmed that the company will move its Texas headquarters from Plano to a new, 350,000 square foot build-to-suit, leased facility at The Star in Frisco. The new location will be ready in 2021 and serve as one of the company's two headquarters, with the other located in Burlington, Massachusetts.
The estimated construction value of the building will be approximately $200 million, according to officials with the Frisco Economic Development Corp.
"We are excited to upgrade our Texas co-headquarters location to support the needs of our vibrant business, including enhanced technology capabilities and space to increase collaboration," said Bob Gamgort, chairman and CEO of Keurig Dr Pepper. "The new location at The Star in Frisco will provide a state-of the-art work environment and exciting amenities that will energize our employees and enable us to attract top talent in the area."
The announcement follows a vote by the Frisco Economic Development Corporation Board of Directors approving an incentive package tied to certain performance criteria. Approximately 1,100 employees work in the company's current location in Plano, which it has occupied since 1998.
"This is an exciting day for the City of Frisco," said Frisco Mayor Jeff Cheney. "Having this Fortune 500 company located in Frisco will continue to strengthen the city's position as one of the top corporate relocation destinations in the United States. With this move, Keurig Dr Pepper will have a direct impact on our city's corporate landscape for many years to come."
"Keurig Dr Pepper's decision to locate here is a huge win for the city and residents of Frisco," said Ron Patterson, president, Frisco Economic Development Corporation. "This move will drive job growth opportunities, as well as create interest from other corporations across the nation seeking to expand and relocate their operations. As more companies move to Frisco, our residents and business community will continue to benefit."
The KDP site is a short walk to restaurants, hotels, retail, and entertainment and will overlook the Dallas Cowboys practice facility.
"We are thrilled to see the business community at The Star continue to grow with the addition of Keurig Dr Pepper," said Jerry Jones, Dallas Cowboys Owner. "We look forward to welcoming another company with deep Texas roots working alongside us at the World Corporate Headquarters of the Dallas Cowboys."
KDP partnered with CBRE to secure the new location and has engaged architectural design firm Corgan for interior design on the project. Blue Star Landpartnered with Lincoln Property Company and the architectural firm HKS for the design of the building.