By Ryan Salchert
An Addison-based financial services debt settlement firm is growing its local footprint with a headquarters move to Richardson.
DebtBlue is taking 30,291 square feet at 1125 E. Campbell Road, the company confirmed Thursday. The company was founded in 2004 and rebranded last year from Butcher Enterprises LLC.
CEO Corey Butcher credits the company’s recent growth to a series of acquisitions involving client portfolios enrolled in debt settlement services. He said the search for a new headquarters began last year and was not accelerated by COVID-19. He declined to disclose the company’s revenue.
DebtBlue is moving its headquarters from Millennium Tower in Addison, where it occupied 6,000 square feet. It also occupied 15,000 square feet in northern Plano, said Butcher.
The company’s employee headcount is expected to nearly double by next year from about 95 employees to around 160 to 180. In three years, Butcher says that count is expected to be in the mid-200s.
Like many local companies, DebtBlue has been adjusting to work-from-home over the last few months. Butcher says some sort of work-from-home policy will continue moving forward, likely in the form of a rotation between those working in and out of the office.
The move will not only support additional growth, but is expected to help the company with employee retention and hiring. Following a labor study, DebtBlue identified Richardson as the most strategic location for its hiring purposes.
“We like that corridor a lot with the growth of State Farm nearby and the development of some new hotels. We’re excited about the move and anticipate it being our home for years to come,” Butcher said.
Ryan Hoopes of Cushman & Wakefield represented DebtBlue, while Clint Madison and John Fancher of Cushman & Wakefield represented the landlord, Los Angeles-based Stanton Road Capital. SRC, which purchased the property last year, is currently underway with a number of renovations to the property, including the development of a new parking garage.