American Specialty Health (ASH), an independent and privately-owned specialty health organizations that offers technology-enabled benefits management services, 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.”
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.