Construction Begins on New Corporate HQ for VPI

BREA, CA-Veterinary Pet Insurance broke ground on a 50,000-sf corporate office building Wednesday, twice the size of its current corporate headquarters in Anaheim. Construction is expected to be completed by Aug. 1, 2001.

“The new structure will combine our office space and warehouse into one facility, maximizing workflow efficiencies,” says Kent Kruse, CEO for VPI. “The interior design will exemplify and validate who VPI is, the nation’s oldest and largest pet medical insurance company. It’s an exciting time at VPI as our growth means more pet owners will say ‘yes’ to the best medical care.”

Represented by CB Richard Ellis’ Anaheim office, VPI signed a 10-year lease, worth more than $7 million, for the build-to-suit structure located at 3060 Saturn St., where VIP will be the only tenant. The firm plans to move as soon as the building is completed.

The firm also has an option to buy all seven buildings to built in the complex, if the owner decides to sell. The first building in the complex, a 33,000-sf structure, is nearing completion. VPI has a right of first refusal to lease that building and all others in the complex as well. Construction of another 24,000-sf building is already planned, and VPI has a two-year, right-of-first refusal to buy that building.

Covering more than 6,400 medical treatments for dogs and cats, VPI was founded in 1980 by Dr. Jack Stephens with the support of 750 independent veterinarians. Its policies are licensed in all 50 states and the District of Columbia. The company enjoys an 82% renewal rate and has issued more than one million policies.