Friday, February 13, 2015

TD Ameritrade scouting North Texas for large office block

Along with State Farm Insurance and Liberty Mutual, another major financial services company is looking for a large block of office space in North Texas.

TD Ameritrade, based in Omaha, Neb., is in the market for more than a half-million square feet, say real estate brokers tracking the deal.

The securities brokerage and investment firm is scouting for office locations near Dallas/Fort Worth International Airport, where it would locate a large operations center, leasing agents say.

TD Ameritrade has an office in North Fort Worth, where it handles technology, client services, investment consulting, brokerage operations and support for its institutional business.

The company has almost 200,000 square feet in the Alliance Gateway. In 2011, TD Ameritrade expanded the facility, saying it was adding almost 500 new jobs.

Real estate brokers say that if TD Ameritrade is successful with its office hunt, the operation would grow even larger with more employees.

Officials in the company’s headquarters could not provide details about the project but confirmed the need for larger facilities.

“As we continue to grow, there is a need to look for additional office space in the Dallas area,” said TD Ameritrade spokesman Brendan McManus. “No decisions have been made; we’re just exploring options at this time.”

In 2013, TD Ameritrade opened a $250 million headquarters in Omaha with 1,200 workers.

The company just bought a large data center complex in Richardson, which adds significantly to its potential in the area.

An affiliate of TD Ameritrade purchased the Stream Private Data Center at 1811 E. Renner Road, just east of State Farm Insurance’s new corporate campus.

The 73,320-square-foot project, just south of Bush Turnpike, was built in 2012 by Dallas-based Stream.

If TD Ameritrade moves ahead with its office plans, it would be the latest major firm to expand its footprint in North Texas.

State Farm Insurance is already moving into its huge, four-building campus in Richardson.

And Toyota Motor Co. is about to start construction on its $350 million North American headquarters in West Plano.

Boston-based Liberty Mutual zeroed in on a location near Toyota in West Plano, where it would locate more than 4,000 workers in two office towers, real estate brokers say.

And rumors in the real estate market continue about California-based Charles Schwab Corp. looking at the Dallas area for a large office.

Last summer, Schwab said it was expanding operations in Austin and adding office workers in El Paso.

Steve Brown, The Dallas Morning News