Countrywide Financial Corp. plans to expand its operation in Chandler from 26 acres to more than 50 acres with an eventual work force of 4,000 people.
Countrywide Home Loans has purchased for $19.5 million the 24.5-acre McShane Chandler Industrial Park immediately south of 26 acres it already owns at Chandler Boulevard and Ellis Street, a halfmile east of Loop 101 and adjacent to Microchip Technology.
The newly acquired acreage includes a vacant three-building, 200,300-square-foot office campus and 8.5 acres of land set aside for parking. Countrywide purchased the acreage from the McShane/MetLife industrial development alliance, said Alan Gillespie, vice president of McShane Corp.
Last September, the Calabasas, Calif.,-based company announced plans to build two 175,000-square-foot buildings on a portion of the 26-acre site. Those two buildings and a parking structure are under construction there.
The company already owned two buildings there, and with the addition of the third and fourth buildings planned to expand its work force to more than 2,500 from more than 500.
In all, that acreage will house a 500,000-square-foot office campus where the company will house administrative and customer service functions.
Officials with Countrywide Financial were unavailable for comment Friday. Economic development officials with Chandler also weren’t available for comment.
"I know their game plan is eventually to have upward of close to one million square feet, so it’s a huge employment center there in Chandler," Gillespie said. "From our perspective, they just simply bought our three speculative buildings that we built and the 25 acres that we had. So they’re combining that, and obviously there will be one larger campus because they’re next door to each other."
Countrywide plans to add a second level to one of the three vacant buildings and convert all of them into office space, Gillespie said. It plans to occupy the space in early 2006 with 1,200 to 1,400 new employees performing processing, underwriting and servicing operations.
Countrywide Home Loans, one of the largest home loan issuers in the United States, is a subsidiary of Countrywide Financial, which provides mortgage banking and financial services in domestic and international markets.
More information about the company and jobs is available at www.countrywide.com.