The company previously announced Feb. 21 that it will relocate its Texas headquarters from Plano to Frisco.
Bob Gamgort, Keurig Dr Pepper chairman and CEO, said the relocation was sparked by the merger last year of Keurig Green Mountain and Dr Pepper Snapple Group.
"We thought about what our criteria is in terms of the place that spoke to our ambitions as well as our culture, and we went on a search," he said "... When we got here, [we] saw this vibrantly growing community, the quality of what you've built here and met the team, we knew this would be our long-term home."
The new location will be ready in 2021 and will serve as one of the company’s two headquarters. The other location is in Burlington, Massachusetts.
The headquarters will sit on a 2.49-acre plot of land. The estimated value of the building is $190 million, and Blue Star Land bought the property from the city for $600,000.
The Star in Frisco is also the home of the Dallas Cowboys World Headquarters. Cowboys owner Jerry Jones said his organization is proud to be associated with the Keurig Dr Pepper brand.
Frisco Mayor Jeff Cheney credited the Dallas Cowboys for helping attract great brands, including Keurig Dr Pepper, to the city. He said he expects more companies to come in the near future.
"The adage is 'Everything is better when you add a Dr Pepper,' and that can be said for Frisco," he said.