Industry News

Countrywide buys new campus in Plano, Texas

New office will give city 1,500 new jobs

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Countrywide Financial is buying a 420,000-square-foot office campus at 1000 Coit Road in Plano, Texas and planning to fill it with about 1,500 new employees, the Dallas Business Journal reported Friday. This means that at least 6,500 of the 7,500 new jobs Countrywide pledged to add in Texas last year will be created in the Metroplex area of the state, instead of going to Austin or other Texas cities, the Journal reported. "The new jobs in Plano will count toward our commitment to Texas," Patrick Benton, managing director of corporate real estate at Countrywide's California headquarters, told the Journal. "We will create at least 7,500 new jobs in the state - probably more. Texas is a great place to do business." The deal also will have a profound effect on the Plano office submarket, as the three-building Coit Road complex has sat empty since Alcatel vacated the property in mid-2003, the Journal reported. The campus was acquired for $9.7 million nine months ago by Dallas-based Westm...