CVE Technology Group, Inc., considered among the fastest growing high-tech after-market service providers for cellular handsets and consumer electronics, has relocated its headquarters from Riverdale, N.J., to Enterprise Business Park in Allen, Texas.
According to CVE officials, 300 employees currently occupy about 40 percent of the 196,000 SF flex-space facility at 915 Enterprise Blvd., which also serves as a service center, and the company is averaging 20 new hires weekly in response to new and expanded contracts with cell phone carriers. At the Allen location, CVE expects to employ 600 by the end of this year, and 1,200 by the end of 2015. The company currently employs 1,100 people throughout the U.S.
“We relocated the headquarters here because the Metroplex is the epicenter of cell phone growth and activity,” said CVE Vice President Ruben Alvarado. “All of the top carriers along with all of the top OEMs are here in the DFW Metroplex. Even if their headquarters are located elsewhere, their hubs and inventory most definitely are here.”
Although CVE maintains a national receiving center in Plano, Texas, and service centers in Fort Worth, and Riverdale, N.J., Alvarado said the key factor in site selection was Allen’s competitive lease rates for spaces that were ready to move in immediately. Allen’s Enterprise Business Park afforded less than 30-minute commutes to DFW International Airport and Dallas Love Field, and many dining and retail options within minutes at the nearby Watters Creek and Village at Allen centers. Alvarado said the Allen Economic Development Corporation also offered a strong economic incentive package.
“Allen is focused on helping businesses expand and relocate here in order to drive the growth of our employment base,” said Allen Economic Development Corporation Executive Director/CEO Dan Bowman. “At full employment, CVE is expected to rank among our largest employers in Allen.”
Bowman said Enterprise Business Park has attracted several large employers in addition to CVE, including Experian Information Solutions, Frontier Communications and Jack Henry & Associates. Combined, the four companies currently employ over 2,500 people.
According to Allen Economic Development Board President Scott Sutherland, the city has fostered a true live, work, play community that has untold potential for additional expansions and relocations.
“At the end of 2013, Allen had an estimated 25,000 daytime employees working here and that number continues to grow,” said Sutherland. “It is immensely rewarding to work with companies like CVE, who can grow along with Allen.”
Lee & Associates Director George Tanghongs represented the landlord, IndCor Properties, and CVE on the transaction.
“The City of Allen was very accommodating and responsive,” said Tanghongs. “The whole process took two months and, ultimately, it came down to the right property, right location and the right incentives Allen offered.”