The deal guarantees Alcatel use of the property's two largest buildings for the next 18 months during a relocation transition of 1,500 employees to its new headquarters in Plano. Meanwhile, about 40 acres are being dedicated for new construction for the Collins Technology Park.

The campus is situated along Collins Road at Greenville east of North Central Expressway, making it a high-profile candidate for development. The property abuts a DART light-rail station that is under construction and a number of fiber providers for enhanced infrastructure support.Alcatel's new USA headquarters consists of property acquired in September 1998 when it bought DSC Communications Corp. The site is located at Coit Rd. and Plano Parkway, where corporate offices are already operational.

The purchase was sealed within 30 days of the assignment despite the sale-leaseback condition required by Alcatel. "This was an extremely complex transaction where we had multiple objectives, a unique set of circumstances for both the property and the property owner, and a demanding timetable," explains Rich Hughes, senior director of Cushman & Wakefield of Texas Inc. who helped arrange the sale for Alcatel. He says the sale-leaseback provided leverage to cut a deal.