DaimlerChrysler, Hillwood Negotiating 130,000-SF Build-to-Suit Lease

WESTLAKE, TX-DaimlerChrysler Financial Services and Hillwood Development Corp. will seal a deal in November for a 130,000-sf, build-to-suit office project in a pact that lands the second corporate entity for the 2,500-acre Circle T Ranch office campus development.

Randy Cooper, senior vice president for Equis in North Dallas, is representing DaimlerChrysler in the lease agreement for an operations center large enough to house 1,000 workers, a 400-employee increase over its present roster. He tells GlobeSt.com that the project is just at its site planning stage, therefore the acreage, positioning on the Circle T Ranch land and final design are undetermined at this point. It’s anticipated the facility will be ready for move-in by fall 2001.

A Hillwood source says the company is planning to use a site one mile west of the Fidelity campus, Circle T’s first business to build a corporate campus on the undeveloped ranch land. Hillwood will oversee construction of the DaimlerChrysler build-to-suit project. B.O.K.A. Powell architects of Dallas is fine-tuning the design while a general contractor has yet to be selected, the source tells GlobeSt.com. Hillwood will assume responsibility for all infrastructure for the project, which will break ground as soon as the final papers are signed in November.DaimlerChrysler now houses three divisions–Affinity, a remarketing staff and Mercedes-Benz Credit Corp.–in 107,000 sf at Solana, where Mercedes-Benz has just finalized a five-year lease for 80,000 sf. That space will be subleased when the office structure is completed.

DaimlerChrysler Financial Services, based in Southfield, MI, is an affiliate of the Stuttgart, Germany-based automobile manufacturer. The financial operation offers dealer and consumer financing for vehicle sales or leasing. The entity was formed two years ago when Mercedes-Benz Credit Corp. and Chrysler Financial Co. merged.