Business

TD Ameritrade buying Southlake land for regional office

Solana rendering of Terrace East Entry. The business park is undergoing a renovation. TD Ameritrade is under contract to buy 78 acres in a vacant, former section of Solana for a regional office.
Solana rendering of Terrace East Entry. The business park is undergoing a renovation. TD Ameritrade is under contract to buy 78 acres in a vacant, former section of Solana for a regional office. Hand-out rendering

TD Ameritrade, which more than four years ago received $1.5 million in local and state grants for an $11.2 million expansion of its facilities at Alliance in north Fort Worth, plans to build a new regional office and move to Southlake, a company spokeswoman said Tuesday.

The investment brokerage company, which has operated in two buildings at 4600 Alliance Gateway Freeway since 1999, is expected to close a contract by the end of October to buy 78 acres near the Solana Business Park along Texas 114. The land is currently owned by the Wilks Brothers, the West Texas billionaire founders of Frac-Tech Services, now known as FTS International. They purchased 112 acres of vacant Solana property out of foreclosure in 2013.

Kim Hillyer, a spokeswoman for TD Ameritrade, based in Omaha, Neb., said there is no timetable on the project, to be called the TD Ameritrade Regional Financial Business Center.

The Fort Worth offices, which now employ about 1,200 people, represent the second-largest employment center for TD Ameritrade, Hillyer said. The two buildings, which total 140,000 square feet, house the company’s call center and institutional business operations. Those will be consolidated into the new building.

“We are out of room,” Hillyer said.

The company just recently told its employees about the pending move, she said, and had no further details available on the project.

“The sale of the land is pending,” Hillyer said. “It’s early days for us. We are at capacity and getting creative with our space.”

In 2011, TD Ameritrade received $1.2 million from the Texas Enterprise Fund, six months after receiving a 10-year, $300,000 grant from Fort Worth. The grants stipulated that the company, which had 1,038 employees at that time, hire 500 by the end of this year.

The city’s incentive was 50 percent of its business personal property taxes over 10 years, for $30,000 a year. In 2014, the company earned 34 percent of its grant, or $9,976, according to a city report. The state incentive was a refund of state sales and use taxes.

A year ago, the 14-building Solana Business Park was bought out of foreclosure by an entity of the Blackstone Group. It is undergoing a $50 million renovation.

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