National builder moving office to Highland Ridge [1]
The local office of Balfour Beatty Construction is moving to the Highland Ridge Tower that is home to Bridgestone’s North American HQ.
Balfour is the latest iteration of the construction company founded by Joe M. Rodgers some four decades ago and most recently known as Centex Construction. Britain-based Balfour bought the business for $367 million a year ago.
The company is leasing more than 14,200 square feet at Highland Ridge for five years. Using the quoted lease rates for Highland Ridge Tower, that values the lease at about $1.4 million.
Balfour’s roughly 30 local employees next month will leave their longtime home at Lakeview Ridge on Elm Hill Pike, where the company now leases about 9,000 square feet from Highwoods Properties.
Balfour’s $3.5 billion U.S. operations are headquartered in Dallas. The company runs 12 other offices in the Southeast and Mid-Atlantic. Locally, the company is building the Music City Central bus station downtown, among other projects.
Whit McCrary and Rob Lowe of Colliers Turley Martin Tucker handled the lease for building owner Gaedeke Holdings. McCrary says Balfour moving in lifts the 12-story, 280,000-square-foot building’s occupancy to 93 percent.
He called Balfour’s regional office “the prototypical tenant” for the Airport North market, which has landed several good-sized tenants in the last few months, including Kroll Background Screening and Oreck.