After spending more than six months considering its options, Fannie Mae picked a new office location north of Dallas that will consolidate its operations in the Dallas metro area from three locations to one.
According to various reports in the Dallas media, including the Dallas Business Journal and the Dallas Morning News, Fannie Mae selected a 300,000 square foot office space in Plano’s Granite Park development to serve as its new regional headquarters.
According to the Dallas Morning News report, Fannie Mae’s Dallas-area operation is its second largest, trailing only Fannie Mae’s Washington, D.C. headquarters in size.
Currently, Fannie Mae’s Dallas-area operations are spread across three different locations, totaling roughly 450,000 square feet.
But according to Fannie Mae spokesperson Andrew Wilson, the plans are to bring all three locations under one roof to improve its operational efficiency.
From the Dallas Business Journal report:
"We will be consolidating to reduce the cost of space in Dallas, while being in one place that allows us to work more efficiently and effectively together," Fannie Mae spokesman Andrew Wilson told the Dallas Business Journal on Tuesday.
"This will allow our teams to work better together, which is important because Dallas is a pretty significant hub for the mortgage industry," Wilson added. "This will be an important location for us."
While Fannie Mae has chosen the location for its new Dallas-area base of operations, the move won’t happen for several years, Wilson told both publications.
According to both reports, Wilson said the move won’t happen until early 2018.
By then, the area surrounding the Granite Park development will also be home to the “world headquarters” of the Dallas Cowboys, who are currently building a massive facility nearby that will be home to the team’s headquarters, practice facility, a multi-use events center, and even a hotel.