EAGAN, Minn.--(BUSINESS WIRE)--Prime Therapeutics LLC (Prime), a pharmacy benefit manager (PBM) based in the Twin Cities and serving 17 Blue Cross and Blue Shield plans nationally, broke ground on its new operations facility in Eagan, Minn. today.
The 400,000 sq. ft. facility will sit on approximately 40 acres in an office park south of Interstate 494 and east of Dodd Road in Eagan - adjacent to the new Minnesota Vikings corporate headquarters. It will be home to Prime’s IT and operations teams and will be flexible enough to accommodate Prime staff from four existing locations while also allowing for future growth. Currently, Prime employs more than 3,600 employees with more than 2,000 in Minnesota. Prime will retain its Bloomington, Minn. office.
Gordy Stofer, vice president of office development for United Properties – the real estate developer for the project, kicked off the groundbreaking event by saying, “We’re extremely proud to be working with the Prime Therapeutics team to help them bring their vision of a more efficient and consolidated workplace to life. This 400,000 sq. ft. office building is one of the largest office projects currently being built in the Twin Cities area and is shaping up nicely.”
He also highlighted some of the new building’s amenities and features, including:
- an open office environment, with numerous conference and meeting space options;
- a large 300+ plus person auditorium;
- a fitness center with views of Lake Shanahan;
- an expansive cafeteria and;
- an outdoor patio and terrace, and other design elements that make use of the lake environment.
Jim DuCharme, Prime’s President and CEO, followed Stofer’s remarks. “Today’s groundbreaking represents a major milestone in Prime’s evolution as a company. This has been an exciting year of growth for Prime as we entered into a strategic alliance with Walgreens and landed some major clients that next year will add nearly 7 million lives to the 20 million people we already serve. The timing is perfect for us to be consolidating our operations and IT teams as it will generate efficiencies and financial savings for our company and our clients for years to come.” DuCharme closed by saying, “And we’re thrilled to be staying in Eagan, a city that is home to so many of our Minnesota-based employees, as it provides the skilled and vibrant workforce our company needs to thrive.”
Prior to the ceremonial groundbreaking, Eagan Mayor Mike Maguire rounded out the program by thanking Prime for choosing Eagan nearly 20 years ago and for continuing to choose Eagan. He noted, “There is a lot to be proud of in Eagan right now from growth in healthcare and technology jobs, to new retail and entertainment. I know I speak for the entire City Council when I say that we have always envisioned major quality developments in this sector, and you and United Properties are making that happen.”
Approximately 75 people attended the groundbreaking ceremony. Representatives included leadership from Prime, United Properties, construction contractor RJ Ryan, commercial real estate advisor JLL, architectural firm HGA, plus staff and elected officials from the City of Eagan, and other organizations that have helped along the way such as Greater MSP and Minnesota Department of Employment and Economic Development (MN Deed).
Chris Rohrer, Managing Director, JLL said, “It has been a great experience to work with Prime. Collectively we developed an approach that increases the efficiency of their workplace, provides the flexibility to scale its operations for future growth and ultimately best addresses Prime Therapeutics’ need for a world class facility for their employees.”
The project will be completed in 2 phases with the first phase to be completed and ready for occupancy by late 2018. The second phase is expected to be completed early 2020.
About Prime Therapeutics
Prime Therapeutics LLC (Prime) helps people get the medicine they need to feel better and live well. Prime manages pharmacy benefits for health plans, employers, and government programs including Medicare and Medicaid. The company processes claims and delivers medicine to members, offering clinical services for people with complex medical conditions. Prime serves more than 20 million people. It is collectively owned by 14 Blue Cross and Blue Shield Plans, subsidiaries or affiliates of those plans. For more information, visit www.primetherapeutics.com or follow @Prime_PBM on Twitter.
About United Properties
United Properties has been creating deep roots in the commercial real estate industry for 100 years. The company imagines new possibilities in real estate to help strengthen communities and create lasting legacies. United Properties provides market expertise for ground-up development, redevelopment and acquisitions of value-add and stable investments. The company invests in and develops office, industrial, retail, mixed-use and senior housing properties. United Properties is owned by the Pohlad Companies and is headquartered in Minneapolis, with an office in Denver. For more information, visit www.uproperties.com or follow on Twitter at @UPDeepRoots.