Fannie Mae is consolidating its 450k SF sprawled over three locations in the North Dallas corridor into a single regional office in the Granite Park office park (pictured).
The new 300k SF office space will reduce costs while allowing employees to work better together, according to the Dallas Business Journal.
Fannie Mae’s gross mortgage portfolio fell from $414.4B in January 2015 to about $353.5B in November 2015 (the latest data available). The contracting portfolio reflect the decrease in default and delinquency rates, and subsequently allows Fannie Mae to take less space to handle the lower workload.
Fannie Mae had been searching for more than six months for new digs that would accommodate its 2,000 North Texas employees. The new building will be constructed at the southeast Dallas North Tollway and Sam Rayburn Tollway in Plano.
The Granite Park development in West Plano includes five office buildings, a hotel and retail space, with more buildings planned. [DBJ]
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