Case Study: Capital Services

When: November 2020
Where: Sioux Falls, SD
Value: $9.8 million | 43,300 SF
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The Story

Project Size and Scope

Lloyd Companies was chosen to serve as construction manager at risk on this two-story, 43,294 square-foot office headquarters for Capital Services Inc. following a competitive interview process. Lloyd worked through multiple value engineering options and design changes before beginning construction.

Capital Services’ project was heavily focused on employees’ security and comfort. There was significant investment in the HVAC system, and the first floor staff break room doubles as a storm shelter. Out of block, steel roller shades can be closed with the push of a button to create a safe, secure place in dangerous weather. Lloyd also installed a FM200 fire suppression system in the server room, and the building is 100 percent backed up by a generator and UPS system to eliminate any potential down time.

In addition to serving as CMAR on the project, Lloyd Companies is the developer of Dawley Farm Village, the mixed use eastside Sioux Falls location for the building, so Lloyd’s development and commercial real estate team also supported Capital Services in its site selection process.


Work began Nov. 1, 2019 and finished on schedule one year later.


The soils in the area were challenging, including navigating in and around the building. Crews were unable to create rock roads around the structure, as the ultimate plan was to install cement ash through the parking lot, so an alternative access road was created around the building using railroad tie planks.

Client Experience

“What we were looking for in our site was a location that we thought would help create that work-life balance we wanted for our employees. And we just couldn’t find that in existing properties. So as we looked at bare land and building new, we narrowed it down to Dawley because of the retail setting and the fact that more than 50 percent of our employees live on the east side of Sioux Falls. We were able to design the building exactly how we wanted to meet our desire for collaboration space, natural sunlight and just make all the improvements we didn’t have.

Working with Lloyd Companies is an example of a partnership more than a one-time vendor situation. I really feel like they brought in their experience in the retail and the office setting side to help us achieve our goals. Budget was a primary concern, but also achieving the feel that we wanted, and they really did a good job of managing that, presenting solutions and setting expectations for what we wanted. It was a really good, smooth process. The building was on time, on budget and just as they told us it would be. It was a pretty quick build process, and we did have challenges from weather as well as COVID-19, with items not being available or not delivered as promised. But in the end we managed through, they made adjustments, and we’ve got a wonderful building. It exceeds our expectations. When you stand back and look at it, and then go in and look around, it’s got a great wow factor.

The level of engagement with Lloyd from the CEO down to the project manager and site superintendent also stood out. We’ve just had such a pleasant experience and constant contact and communication from all levels. We really feel engaged with Lloyd Companies and that they looked out for us. It’s amazing how many people at Lloyd with different functions and different expertise have contributed to this project.”

– Jeff Derner, Senior Vice President of Operations