The new Fannie Mae building for Granite Properties
Chase will add 6,000 employees at Legacy West
Fannie Mae Lands at Plano’s Granite Park in Regional Consolidation
The Federal National Mortgage Association, better known as Fannie Mae, has picked a location in Plano to house a regional multi-office consolidation that reflects the shift in a mortgage industry that is grappling with fewer mortgage delinquencies. Instead of three locations in the North Dallas corridor totaling about 450,000 square feet, Fannie Mae plans to occupy a single, 300,000-square-foot regional office in the Granite Park multitenant office park in Plano at the southeast Dallas North Tollway and Sam Rayburn Tollway. “We will be consolidating to reduce the cost of space in Dallas, while being in one place that allows us to work more efficiently and effectively together,” said Fannie Mae. Granite Properties has been expanding its Plano office campus for the past year. It includes a new Hilton-flagged hotel and a boardwalk-style restaurant development.
– Dallas Business Journal, January 5, 2015
JP Morgan Chase to Put Massive Regional Campus in Plano’s Legacy West
Banking and financial services company J.P. Morgan Chase & Co. has signed a letter of intent to develop a new regional campus in Plano’s Legacy West to bring 6,000 North Texas employees. “Because JPMorgan Chase is committed to the Dallas-Fort Worth market, we’re making a significant capital investment in building a world-class campus at Legacy West in Plano,” J.P. Morgan Chase Spokesman Greg Hassell said. “This campus will serve more than 6,000 employees and support all of our lines of business.” Construction is expected to begin this year. For the past year, J.P. Morgan Chase has been shopping for 50 acres to 75 acres of land from Las Colinas to McKinney to the north end of the Dallas North Tollway. The site would ultimately house a 1 million-square-foot campus for about half of the firm’s North Texas employees (they have more than 12,000 employees in the region).
– Dallas Business Journal, January 7, 2015
Legacy West and Granite Park – 35,000 Workers
With the announcement of Chase moving to Legacy West and Fannie Mae moving to Granite Park, the immediate 121 Tollway/Dallas North Tollway will soon have 35,000 workers. Toyota, Fed Ex, Liberty Mutual, Fannie Mae, and Chase join other companies that have already relocated to the business parks at that intersection.. It is projected than by 2025 that intersection will be the crossroads of Dallas. Oh my, the traffic by 2025. But what great real estate for the region as more corporate employees and their families relocate to Dallas.