Even with new offices coming, CareSource decides to keep space in another downtown building

CareSource will remain at 40 W. Second St. through 2020, extending a lease at a downtown Dayton office building that it had previously planned to let lapse.

The Dayton insurance company, which primarily manages private Medicaid plans, will continue to lease space in the 40 W. Second St. office building through December 2020.

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CareSource is building a second office tower in downtown Dayton scheduled to open in 2019.

The nonprofit said when the second tower project was announced that it would let several other office leases in downtown Dayton run out and move those employees to the new office tower.

The lease agreement was extended in July of this year after an evaluation of the insurer’s growth projections, said Dan McCabe, CareSource’s chief administrative officer.

McCabe said the lease extension was a part of CareSource’s annual assessment of whether its space meets the needs of its staff.

CareSource’s renewed lease at the building at the corner of Second and Ludlow, is for 76,701 square feet, or two full floors.

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The building was once home to Elder-Beerman and now home to other tenants like the Area Agency on Aging and Boston Stoker. Victoria Theatre Association is planning to open a venue on the first floor.

Pete Nichols, with Colliers International, who represents the building owner in lease deals, said the building is now fully leased with the exception of about 1,500 square feet of retail space on the first floor facing Courthouse Square.

CareSource is one of the largest local employers, with about 2,800 Dayton employees.

The company manages Medicaid and Medicare and sells individual plans on the Affordable Care Act marketplace. CareSource has nearly 2 million members in Ohio, Kentucky, Indiana, West Virginia and Georgia.

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