Trammel Crow had shared the UnitedHealth contract with JLL in the previous contract three years ago, but JLL had not signed on in 2004 when the deal was renewed. A spokesman for JLL confirmed to GlobeSt.com that his company earned the new work, but says he cannot comment further.

Whit Peyton, managing director of the Bloomington office of CBRE, says the healthcare company was treated exceptionally well. "We're really disappointed by UHG's position to discontinue a major portion of our contract," he tells GlobeSt.com. "We receive consistently high praise, and our 90% retention rate is a testament to that."

He says the company will still continue to handle UHG's development work "through the conclusion of the development process" on about $250 million in projects. These include the UHG's new 350,000-sf headquarters building, a 10-story office structure being built next to the company's current corporate location by 2008. Another 300,000-sf office building is planned for the site, though a timetable has not been set.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.