Schwab leasing office space for hundreds of workers in Westlake

Charles Schwab has leased a building formerly occupied by Daimler Chrysler Financial in Westlake where it plans to employ hundreds of people starting next year.

The financial services company, based in San Francisco, has signed a five-year lease for 130,000 square feet of office space at 2050 Roanoke Road, according to Schwab spokeswoman Sarah Bulgatz. She said the company expects to begin occupying the space around the middle of next year and would be doing local hiring.

The building, located on the east side of Texas 170 on the Circle T property, once housed operations for both Chrysler Financial and Daimler Financial. Daimler later moved its Mercedes-Benz Financial operation to a different location in AllianceTexas after Daimler Chrysler split up.

The building is located just south of where Hillwood and Hughes Development have filed plans for a major mixed-use development to be anchored by more than 1 million square feet of corporate office space. According to a report in the Dallas Business Journal, Schwab is considering acreage there for a bigger campus. Bulgatz declined to comment on any possible future development.

The proposed Hillwood-Hughes project would also includes a hotel, residential units and supporting retail space. It sits on land near Texas 114 where Hillwood once planned to develop a shopping mall. Those plans fell apart after the Great Recession.

The proposed Circle T project is scheduled to come before the Westlake Planning and Zoning Commission on Dec. 1.

This story was originally published November 17, 2015 at 6:32 PM with the headline "Schwab leasing office space for hundreds of workers in Westlake."