San Francisco-based Charles Schwab may be acquiring 74 acres adjacent to the Circle T Ranch from Hillwood by the end of the year with plans to develop a massive operations center.
The financial services giant has already signed a lease for 130k SF of office space in Westlake at 2050 Roanoke Rd, which is adjacent to the development site. There are rumblings that Schwab could build a campus with up to six buildings and totaling 1.2M SF at the site, the Dallas Business Journal reports. Schwab has targeted Texas as a prime target for relocating some of its workforce and is in the midst of transferring 1,200 jobs to an expanded Austin facility and a new operations center in El Paso.
The Circle T Ranch is the site of a 2.5k-acre mixed-use, master planned development from Hillwood Properties and Howard Hughes Corp. Plans for the development include more than 1.1M SF of retail, restaurants and entertainment. Hillwood is also signed on as the master developer for Frisco Station, a $1B mixed-use project adjacent to the new Dallas Cowboys World HQ. [DBJ]
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