Blue Cross Blue Shield
Case Study Overview
Blue Cross Blue Shield of Minnesota (BCBSM) was growing and had corporate employees located at four different locations within the Eagan area.
BCBSM desired a corporate real estate strategy that embraced the corporate strategy for growth.
We completed a strategic real estate plan that defined the disparity between where they were in comparison to their desired goal. Completing a real estate plan started by understanding what they had for real estate and what they were going to need as defined through surveys and follow up questioning of the individual business units.
Once a plan was defined and agreed to by Senior Management we then laid out a strategy to execute the plan. The plan was delivered in about a five year period.
Our comprehensive solution based approach for BCBSM resulted in the following:
- Sold approximately 5 acres of land on the corporate campus to a strategic partner, Delta Dental, for construction of a new headquarters building
- Developed a new corporate headquarters, approximately 165,000 sq. ft., on land owned by BCBSM
- Purchased a neighboring building for repurposing as the BCBSM University
- Purchased two adjacent buildings of about 250,000 sq. ft. for expansion of office space needs
- Marketed and sold about 40 acres —adjacent to the campus but not considered part of the overall campus plan— to a national housing developer for upscale housing.
- Master planned the remaining available land for future expansion needs