Newmark Knight Frank assisted The TriZetto Group Inc., a healthcare IT company, in determining the critical factors involved in its recent decision to build a new 166,912-square-foot world headquarters building in Colorado.
A team led by Bill Benton, a senior vice president of Cornish & Carey Commercial Newmark Knight Frank (C&CCNKF) in San Francisco, and a Newmark Knight Frank Global Corporate Services (GCS) consulting team, assessed workplace needs and location factors for TriZetto. The healthcare technology firm settled on a build-to-suit in Douglas County’s Meridian International Business Center after considering a short list of other states including Missouri, New Jersey and Arizona.
In a process that spanned four months, Newmark Knight Frank structured a deal in which TriZetto was awarded a $4.8 million package of state and local incentives to support the firm’s expansion in Colorado.
“We understand that Missouri and New Jersey offered considerable economic incentives,” said Benton, whose team included Joe Sigdestad of Cassidey Turley Fuller Real Estate in Denver. “However, this decision allows TriZetto to move into a future location that best supported its business long term.”
The GCS consulting team, led by Robert J. Hess and Rajeev Thakur, focused on project strategy, business assessment and available incentives, with Paul Hampton and Daniel J. Foster taking the lead on identifying and developing incentives. Thomas Hundelt assisted with project management, and Diane Ruf with workplace strategy.
“I strongly believe our new worldwide headquarters is a win-win for both Colorado and for TriZetto,” said Trace Devanny, TriZetto’s chairman and CEO. “For TriZetto, it means continued success fueled in part by Colorado’s welcoming business community and impressive workforce. For Colorado, it means more jobs - professional, high-quality, high-tech jobs in the growing healthcare IT sector. Colorado will be home to one of the nation’s largest healthcare IT companies. TriZetto plays a vital role in improving the cost and quality of healthcare, a $2.8 trillion industry that presents this country’s greatest challenge.”
The new HQ will be built by the Opus Group and owned and managed by Lexington Realty Trust. Construction is expected to be completed early next year.
Previous efforts on behalf of TriZetto include office transactions in California, Illinois, Maryland, New Jersey, New York and Pune, India.
Newmark Knight Frank GCS has been recognized in the Leader category by the International Association of Outsourcing Professionals® in its ranking of the 2012 Global Outsourcing 100®.
TriZetto provides world-class information technology and service solutions that help payers and providers work more efficiently and collaborate to deliver better health. TriZetto solutions touch over half the U.S. insured population and reach more than 100,000 care providers. TriZetto helps healthcare organizations achieve compliance; enhance administrative efficiency; improve the cost, quality and delivery of care; and compete to win in an emerging retail market. Payer solutions include benefits administration, care management, network management and portal platforms, as well as consulting, application management and business management services. Provider solutions include real-time eligibility assurance and claims editing and revenue cycle management technology and services that help providers get paid quickly and accurately. For more information, visit www.trizetto.com.
About Newmark Knight Frank
Newmark Knight Frank is one of the largest real estate service firms in the world. Headquartered in New York, Newmark Knight Frank and London-based partner Knight Frank together operate from more than 240 offices in established and emerging property markets on five continents. With a combined staff of more than 7,000 and revenues last year exceeding $993 million, this major force in real estate is meeting the local and global needs of tenants, owners, investors and developers worldwide. For further information, visit www.newmarkkf.com.
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