Commercial Real Estate

Could Tenet Healthcare Corp. Be on the Move?

Fountain Place

Tenet Healthcare Corp. might be leaving downtown after a decade in Fountain Place on Ross Avenue, and could be headed to a location north of 635, reports the Dallas Morning News. Tenet has been selling off assets in an effort to improve its bottom line over the past couple years, and the 500 employees downtown could be moving into more affordable digs.

DMN reports that the publicly traded company has been looking for ways to save $200 million, and CEO Ronald Rittenmeyer told analysts that office needs might be a way to do that. “We’re going to consolidate, for example, our office structures here in Dallas into one building,” Rittenmeyer told analysts. “That may sound trite, but it actually will force a lot more integration to occur and we do need to do that.” Tenet CFO Daniel Cancelmi echoed the point.

Tenet has offices in Addison and Frisco, and is looking at locations near the Galleria, Frisco, Farmers Branch, and Plano, DMN reports.

Tenet has discussed offshoring jobs and has offloaded assets in an effort to save money and focus their business model in the last couple years.

Read the entire story here.



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