American Specialty Health Signs New 164,000 SF Lease At AllianceTexas
American Specialty Health (ASH), one of the nation’s premier independent and privately-owned specialty health organizations offering technology-enabled benefits management services, is one of the newest customers to take up residence at AllianceTexas, the more than 26,000-acre master-planned community developed by Hillwood. A leader in musculoskeletal provider networks, fitness and exercise programs and health management solutions , ASH has leased approximately 164,000 square feet of Class A office space in Heritage Commons IV from building owner Griffin Capital Essential Asset REIT (GCEAR).
“We are pleased to welcome American Specialty Health to AllianceTexas’ ever-growing office community,” said Steve Aldrich, senior vice president of Hillwood. “Our region has an extensive and impressive list of top-tier health companies and with its cutting-edge healthcare services and new employment opportunities, ASH enhances that list in North Texas.”
Previously occupied by Mercedes-Benz Financial Services, which recently opened its new Fort Worth Business Center also within AllianceTexas, Heritage Commons IV offers ASH the unique ability to occupy a single tenant, environmentally conscious space with state-of-the-art amenities. ASH will be fully operational from day one when it opens its doors in September, a key advantage of selecting Heritage Commons IV as its new location.
“American Specialty Health continues to grow rapidly and expanding our workforce in Texas is central to our ongoing success,” said ASH co-founder, Chairman and CEO George DeVries. “As such, it’s vital we offer our employees an environment that meets the demands of today’s tech-driven workforce, and AllianceTexas checks all of the boxes. In addition to the move-in ready building, Heritage Commons IV offers a number of amenities that help reinforce our culture of work-life balance. With access to a talent-rich labor market, a variety of residential options, lifestyle amenities and an established community, our company is poised to grow and thrive in North Texas for years to come.”
ASH provides musculoskeletal health solutions, fitness and exercise programs, and health management solutions to employer groups, health plans, insurance carriers and others, with the goal of improving member health and bending the health care cost curve. ASH covers more than 50 million Americans under its benefits administration programs. Since its inception in 1987, the company has grown into a half billion-dollar corporation and has been named to the Inc. 5000 List of Fastest Growing Private Companies for the last nine out of ten years.
“Heritage Commons IV offers best-in-class, on-site and surrounding amenities, and we are proud American Specialty Health will call our building home,” said Michael Escalante, CEO of GCEAR. “Thanks to the efforts of our partner Hillwood, combined with our ability to quickly execute a re-tenanting strategy, we were able to find a customer for the building, thereby insuring consistent performance from that property for our REIT investors.”
With space to expand, choosing AllianceTexas reaffirms ASH’s commitment to technologically advanced and modern healthcare solutions. AllianceTexas provides businesses with everything they need to succeed, including easy access to international business travel, exceptional educational institutions and a continuous pipeline to an abundant, qualified workforce.
Steve Aldrich, senior vice president, and Ian Kinne, marketing manager, of Hillwood represented GCEAR in the transaction. American Specialty Health was represented by Jenny Schreiner and Jon Altschuler of Altschuler and Company.
Celebrating its 30th anniversary in 2019, AllianceTexas is an unparalleled regional success story that has transformed the North Texas economy and connected the area to global industry. Anchored by Fort Worth Alliance Airport, the world’s first dedicated industrial airport, and led by Hillwood’s development of 26,000 acres, AllianceTexas is home to over 500 companies which have built more than 45 million square feet and created over 61,000 jobs, its estimated cumulative impact since 1989 is more than $76 billion for North Texas. The Alliance region hosts one of the nation’s premier intermodal hubs and has expanded far beyond its industrial roots to include corporate headquarters, healthcare providers, higher education centers, shopping and entertainment destinations, and vibrant residential communities. From the newest homeowner to the most well-known of Fortune 500 companies, opportunity thrives at AllianceTexas. For additional information, please visit www.alliancetexas.com .
Hillwood, a Perot company, is a premier industrial, commercial and residential real estate developer and manager with projects throughout North America and Europe. With a diverse portfolio of properties which have become home to many of the world’s leading companies, Hillwood is committed to bringing long-term value to our customers and partners and the communities in which we serve. Hillwood also served as the lead developer of marquee projects nationwide, from the Air Force Memorial in Washington, D.C. to the Perot Museum of Nature and Science and the American Airlines Center in Dallas. For additional information, please visit www.hillwood.com .
About American Specialty Health
American Specialty Health Incorporated (ASH) is one of the nation’s premier independent and privately-owned specialty health organizations offering technology-enabled benefits management services, including musculoskeletal health provider networks and programs, fitness center networks and exercise programs, and health management solutions for health plans, insurance carriers, employers and others. With offices in Carmel (Indianapolis), IN, San Diego, CA, Southlake (Dallas), TX, and Columbia, SC, ASH has more than 1,500 employees. ASH administers benefits for over 50 million members nationwide and has consumer self-pay programs for over 155 million members. For more information about ASH, visit www.ashcompanies.com or call 800-848-3555. Follow us on LinkedIn or Twitter at @ASHCompanies .
About Griffin Capital Essential Asset REIT
Griffin Capital Essential Asset REIT, Inc., is a self-managed, publicly registered, non-listed Real Estate Investment Trust (REIT) that reports its Net Asset Value (NAV) daily. Its portfolio of net-lease assets consists of single-tenant, business essential properties throughout the United States, diversified by corporate credit, physical geography, product type, and lease duration. As of June 30, 2019, Griffin Capital Essential Asset REIT owns 101 properties located in 25 states totaling 27.2 million in rentable square feet, representing a total REIT capitalization of $4.7 billion. Griffin Capital Securities, LLC, Member FINRA/SIPC, is the dealer manager for Griffin Capital Essential Asset REIT.
Additional information is available at www.gcear.com .