search

The Real Deal Logo

Trending

Elliman broker Tracy Tutor comes forward with Oren Alexander claimElliman broker Tracy Tutor comes forward with Oren Alexander claimAnother woman alleges Oren Alexander raped her in New YorkAnother woman alleges Oren Alexander raped her in New YorkHere’s why luxury sales are booming in Boca Raton’s most expensive neighborhoodHere’s why luxury sales are booming in Boca Raton’s most expensive neighborhoodNYCB reports another loss, reveals multifamily painNYCB reports another loss, reveals multifamily pain
Commercial
Texas

Peloton to sublet 100K sq.ft. of Plano office space

The plan to cut its footprint in the Legacy Central business park comes less than a month after pulling out of 100K sq.ft. of space in Manhattan

Peloton president and ceo Barry McCarthy and 6500 Chase Oaks Boulevard, Plano, TX (Google Maps, Getty)
Peloton president and ceo Barry McCarthy and 6500 Chase Oaks Boulevard, Plano, TX (Google Maps, Getty)

Peloton Interactive is backpedaling on its planned expansion in Plano.

Last Friday, the struggling exercise equipment firm announced the termination of hundreds of customer support staff in Plano and Arizona. Now, Peloton is looking for someone to sublet the 104,000 square feet of office space it has in the Legacy Central business park on Highway 75, the Dallas Morning News reports.

In July, the company listed about a third of its office space at Manhattan’s Hudson Commons for sublease.

The New York-based company began leasing the Plano offices for its new regional campus back in 2018. Peloton officials had reportedly considered offices in multiple U.S. cities before settling on the metroplex as the site of its first member support center outside New York City. At the time, the company planned to put more than 1,500 workers in the offices in the Legacy Central business park on Highway 75.

Sign Up for the undefined Newsletter

Read more

Code Capital Partners' Jared Remington and Hillcrest Apartments in Mesquite, TX (LinkedIn, Google Maps, Getty)
Politics
Dallas
Alleged DFW slumlords delay lawsuit with bankruptcy filing
Dallas Fort Worth, Texas
Commercial
Dallas
Far North Dallas leads DFW office recovery

On top of cutting almost 800 jobs last week, Peloton also announced heightened prices for its Bike+ and Tread machines, as well as gradually closing many of its retail showrooms starting next year. To make up for the loss of staff, the company said it would be using third-party firms to handle support requests as needed to augment the staff it is keeping.

The Legacy Central office lease at 6500 Chase Oaks Boulevard runs through early 2029. Peloton tapped CBRE to market the firm’s excess office space to potential subletters.

— Maddy Sperling

Tags
DFW
Recommended For You