|Toyota Industries Commercial Finance Inc. is looking at the Cypress|
Waters development for its U.S. headquarters.
Friday, June 12, 2015
Toyota finance company headquarters looking at Dallas location
Automaker Toyota is poised to make move another operation to North Texas.
And this time Dallas is pitching a plan for the office headquarters.
Toyota Industries Commercial Finance Inc. is a company the Japanese-based manufacturing giant set up last year. The firm handles financing of vehicles and equipment made by Toyota’s industrial almost 90-year-old Toyota Industries Corp.
For months Dallas city staff has held discussions with representatives of Toyota Industries Commercial Finance as they shopped locations in southern California and the North Texas area for the location of its new U.S. headquarters.
The high-profile office deal is set to land in the Cypress Waters community on LBJ Freeway at Belt Line Road.
The Toyota finance company has a preliminary agreed to lease a 60,000-square-foot office in the Cypress Waters.
That’s the same development where 7-Eleven is building its new corporate headquarters. And its where CoreLogic recently announced plans for a new regional campus with more than 1,400 workers.
“They will be investing $4 million and will be brining about 170 jobs,” said Dallas assistant city manager Ryan Evans. “We are delighted to have them.
“It’s the original Toyota company founded in 1926.”
Dallas is being asked to provide a more than $277,000 economic development grant to help secure the Toyota operation.
Toyota would rent the offices at 8951 Cypress Waters Boulevard for seven years with options for another 10 years of occupancy.
The new office would be ready by December.
Officials with project developer Billingsley Co. had no comment on the pending transaction.
Billingsley just broke ground on a 4-story speculative office building next door to where Toyota would locate.
Last year Toyota announced that it was bringing the North American headquarters of its worldwide automaking division to Plano.
Construction has started on the more than 2 million square-foot office complex that will house more than 5,000 workers when it opens in 2017.
Steve Brown/Dallas Morning News