Seeded by $20 million from the Texas Enterprise Fund, Countrywide Financial Corp. plans to close the first leg of a $200-million investment in a 496,480-sf campus by year’s end to jumpstart an expansion with 7,500 more jobs for North Texas.
The deal is being touted as the single largest job expansion in the US in four years. The Calabasas, CA-based lender’s top executives say the Dallas/Fort Worth plan isn’t a signal that Countrywide plans to substitute the West Coast headquarters with Texas…at least for now. Countrywide’s president, whose firm occupies about 1.1 million sf of corporate and support space in six California cities, declined to give a firm answer about a possible headquarters move at yesterday’s press conference, but did say the Richardson campus—constituting three of the four office buildings in Galatyn Office Park—is destined to grow as will the number of executives who will be based there.
The $200-million investment is an all-in cost for acquisition of the class A, three-building campus from Prudential Real Estate Investors of Parsippany, NJ, and an abutting 16.7 acres from Nortel Networks Inc. of Toronto, the complex’s build-to-suit tenant since 1997. The price tag includes interior renovations to gut and rebuild the space.
For this complete story, please visit Countrywide Financial Fast Tracks $200 million Campus for North Texas.
