Leading Fitness Platform Signs Lease for Additional 103,750 SF of Office Space
December 09, 2020
Dallas – Transwestern Real Estate Services (TRS) announces Peloton, the revolutionary fitness platform that has brought the boutique fitness experience directly into homes, has expanded its North Texas footprint at Legacy Central in Plano. Peloton adds 103,750 square feet of space to the current office space for a total of 131,268 square feet. This expansion more than quadruples its previous lease of 27,518 square feet and will allow Peloton to hire up to 1,600 new employees across member support, sales, people, field operations, and other corporate functions. Transwestern’s Nathan Durham and Duane Henley represented the landlord, Regent Properties.
“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 of Real Estate for Peloton. “The new additions to the space includes 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.”
Peloton’s corporate headquarters and flagship studio are currently located in New York City. The 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.
Peloton will remain in its current offices with the additional square footage located in an adjacent one-story building. Peloton is looking to hire up to 1600 people over the course of five years in a number of roles from business leaders to managers and entry-level employees. 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 Baron Aldrine, Executive Vice President with CBRE. “All of the reasons Peloton initially picked Plano have proven to be a fantastic decision for the company.”
Legacy Central is an expansive 85-acre campus with nearly 1,000,000 square feet of office space. The lease brings the campus to 80% 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.”
CBRE represented Peloton in lease negotiations.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. An integrated approach formed from fresh ideas drives value for clients across commercial real estate services, development, investment management and opportunistic programs for high-net-worth investors. The firm operates through 34 U.S. offices and global alliances with BNP Paribas Real Estate and Devencore. Learn more at transwestern.com and @Transwestern.
About Regent Properties
Headquartered in Los Angeles, with regional offices in Dallas and Phoenix, Regent Properties is a multi-faceted real estate development and investment management firm. Over the past 29 years, Regent has acquired, developed, financed and/or managed over $3 billion in real estate transactions nationally, encompassing more than 12 million square feet of retail, office, residential and mixed-use projects and 14,000 acres of master planned communities representing 34,000 lots.
Media Contact:
Collin Burwinkel
972-774-2531
collin.burwinkel@transwestern.com
twmediarelations@transwestern.com