Last week Jamba Juice announced they will relocate their corporate headquarters from California to North Texas in the fall. The company has signed a lease in Hall Office Park in their new 3001 Dallas Parkway building located in Frisco, TX. Jamba Juice’s facility will include their headquarters, a state of the art test kitchen, and a retail storefront. My colleague Bill McClung and I had the privilege of representing Jamba Juice as their brokers during their headquarters relocation, as well as the incentives negotiations with the State of Texas and local cities within Dallas/Fort Worth.
The Reasons For The Move
Recently there has been discussion about why companies leave their long time corporate homes to relocate to the Dallas/Fort Worth area. It is very helpful to hear the drivers behind these relocations from the executives of each company, and the CEO of Jamba Juice, Dave Pace, shared the reasons for their relocation to Texas with us. “The primary goal of the move is to position Jamba Juice for long term, profitable growth. North Texas provides a number of strategic advantages over other areas of the country that will allow us to achieve our desired growth” said Pace. The advantages of the area, according to Dave Pace, are the following:
1) Quality of Life
3) Cost of Real Estate
The new Jamba Juice Headquarters building (3001 Dallas Pkwy) in Frisco, TX.
1) Quality of Life – Frisco is consistently ranked as one of the best mid-sized cities to live in throughout the country. Jamba Juice is a unique, active lifestyle brand, and the employees reflect that culture. The City of Frisco will enable them to promote their one of a kind culture. Additionally, affordable housing in the area, excellent education systems, and overall lower cost of living contribute to a high quality of life for Jamba Juice team members.
2) Talent – The deep, talented labor pool in North Texas makes the area a fertile recruiting ground for Jamba Juice as they identify and hire top professionals to join their team. A portion of Jamba Juice team members will relocate from California to DFW, while the rest will be new additions hired in North Texas.
3) Cost of Real Estate – The cost of office real estate in the DFW market is considerably lower than their previous location in the Bay Area. Jamba Juice will be moving their 25,000 SF headquarters into a brand new, LEED Certified building, with top of building signage visible to 55,000 cars per day. They will receive an ample tenant improvement allowance provided by the building owner. The overall terms of the agreement are extremely favorable for Jamba Juice and helped make the move very attractive.
4) Geography – The central location of North Texas makes it easier for Jamba Juice to support their existing markets and grow into future markets across world. Having their home base in Frisco, with DFW International Airport and Love Field within 20 minutes of their office, affords Jamba Juice team members and franchisees superior access to markets on the East Coast, West Coast and around the world.
5) Incentives – The Texas Enterprise Fund (TEF) Trustees, including Governor Greg Abbott, Lt. Governor Dan Patrick and Speaker of the House Joe Straus, offered an $800,000 grant to Jamba Juice to incentivize the company to relocate their headquarters to Texas. Additionally, the City of Frisco presented an incentive package to lure Jamba Juice. By combining the incentives from the TEF and Frisco, the money offered to Jamba Juice was icing on the cake to seal the deal for Texas.
The abundant amenities in Hall Office Park were attractive to Jamba Juice.
Welcome To Texas
Jamba Juice made the decision to relocate their headquarters to Texas with much thought and deliberation. After taking all of the factors into consideration, they decided Texas is the best place for their team. We are incredibly excited to welcome them to the community and look forward to them thriving in their new home.