St. Tammany Will Be Home to Globalstar
Globalstar’s satellite communications technology headquarters is located in Covington. The company has listed the building for sale for close to $20 million. St. Tammany will not lose the headquarters as it will stay in the St. Tammany parish building.
“We have a 10-year lease, which we fully intend to stay for,” Globalstar CEO Dave Kagan said.
Globalstar moved from Silicon Valley to Covington back in 2010. Thermo Development Corp, Globalstar’s majority shareholder, says they are just in the third year of the 10-year lease and are interested in subleasing back from whoever purchases the building. During the pandemic, the company began to shift to a hybrid work model. The 66,180-square-foot-building located at 1351 Holiday Square Boulevard in Versailles Business Park is conveniently located close to the Interstate 12 and U.S. 190 interchange.
Only around 60 employees actually work in the office. The majority of the 200-plus employees work remotely. Most of the company’s employees live in the St. Tammany area so the Northshore will stay Globalstar’s home. “We have incredible growth in the business,” he said. “We are not going anywhere. We’re not moving anywhere.”
The building has a 250-space parking lot with electric vehicle charging stations, floor-to-ceiling dry erase conference room walls, and noise reduction features throughout. There is a workout facility on the second floor that boasts showers, a telemedicine room, a full kitchen, and breakrooms.
