Countrywide Financial Corp.

DALLAS BUSINESS JOURNAL
By: Christine Perez and Holli L. Estridge

In two big transactions last year, Countrywide Financial Corp. single-handedly absorbed a whopping 714,000 square feet of Metroplex office space.

In Plano the home-financing giant acquired 1000 Coit Road, a vacant 420,000 square-foot building previously occupied by Alcatel. The sellers, Westmount Realty Capital L.L.C. and Buchanan Street Partners, had purchased the project as an investment in 2004. Nine months later, they struck the deal with Countrywide. The expansion will bring 2,000 new jobs to Plano.

Holmes Davis with Binswanger Cos. and Johnny Johnson and Trey Smith with Capstar Commercial Real Estate Services represented Westmount and Buchanan Street in the deal. Countrywide was represented by Tim Terrell with Stream Realty Partners and Jim Travers with California-based Travers Oncor.

Terrell and Travers also helped Countrywide expand in Fort Worth, brokering its acquisition of a 294,000-square-foot office building in Koll Development Co.’s Centreport office park. The company bought the project from Cherokee Investments for an undisclosed sum.

At least 1,500 new jobs will be created at the new Tarrant County location.