BLUE CROSS AND BLUE SHIELD OF TEXAS TO STAY IN RICHARDSON
Three-year strategic analysis results in Long- term lease at Central Expressway Campus

RICHARDSON, TEXAS (February 3, 2005) – After spending three years strategically analyzing their real estate options, including development of a new campus, Blue Cross and Blue Shield of Texas has committed to a new 16 year lease for 517,000 square feet at their existing 901 S. Central Expressway campus in Richardson.

Located just north of the new High Five intersection of Central Expressway and I-635, the Blue Cross campus houses over 2,400 employees.  Blue Cross has made its Texas home there since 1980.  “Our strong ties to Richardson definitely played a role in our decision to retain our corporate headquarters in this dynamic business corridor,” says Pat Hemingway Hall, President, Blue Cross and Blue Shield of Texas. 

Bill Keffler, City Manager, City of Richardson stated, “Blue Cross has been a corporate anchor for the City of Richardson since 1980, and we are ecstatic with their decision to continue this partnership.  Blue Cross has made invaluable contributions to our community over the past 25 years and we are proud that this health insurance industry leader has demonstrated the confidence in Richardson to warrant this long-term commitment.”  Bill Sproull of the Richardson Chamber of Commerce concurred.  “Blue Cross and Blue Shield's decision to stay here once again demonstrates the strength of Richardson in meeting corporate location needs in workforce, transportation access, and overall business climate."

Jeff Ellerman, Frank Ricca and Mike Sessa of The Staubach Company represented Blue Cross and Blue Shield.   “We are proud to have consummated this lease for Blue Cross,” stated Jeff Ellerman, an Executive Vice President with Staubach.  “Economically and strategically it makes great sense for them.”

Blue Cross and Blue Shield of Texas is the only statewide, non-investor owned health coverage provider in Texas, serving more than 3.5 million members in all 254 counties.  Blue Cross and Blue Shield of Texas is a division of Health Care Service Corporation, a Mutual Legal Reserve Company, an Independent Licensee of the Blue Cross and Blue Shield Association.

The Staubach Company is the leading global real estate advisory firm that delivers cost-effective solutions for the users of OFFICE, INDUSTRIAL and RETAIL space.  We have extensive experience in strategic consulting, site selection, acquisition, disposition, construction consulting/project management, real estate administration, portfolio management, financing and capital solutions.   To meet the evolving needs of our clients, we continually expand our service offerings and geographic coverage. 

The Staubach Company has 1,200 people in 57 offices throughout the Americas, and over 2,200 clients.  At a value of almost 18 billion dollars, we completed over 5,000 transactions totaling more than 151 million square feet in our most recent fiscal year.  Worldwide, the DTZ Staubach Tie Leung partnership has over 7,900 professionals that deliver services and solutions to multinational clients in more than 46 countries. For more information:  www.staubach.com / 1-800-944-0012

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