The deal guarantees Alcatel use of the property's two largestbuildings for the next 18 months during a relocation transition of1,500 employees to its new headquarters in Plano. Meanwhile, about40 acres are being dedicated for new construction for the CollinsTechnology Park.

The campus is situated along Collins Road at Greenville east ofNorth Central Expressway, making it a high-profile candidate fordevelopment. The property abuts a DART light-rail station that isunder construction and a number of fiber providers for enhancedinfrastructure support.Alcatel's new USA headquarters consists ofproperty acquired in September 1998 when it bought DSCCommunications Corp. The site is located at Coit Rd. and PlanoParkway, where corporate offices are already operational.

The purchase was sealed within 30 days of the assignment despitethe sale-leaseback condition required by Alcatel. "This was anextremely complex transaction where we had multiple objectives, aunique set of circumstances for both the property and the propertyowner, and a demanding timetable," explains Rich Hughes, seniordirector of Cushman & Wakefield of Texas Inc. who helpedarrange the sale for Alcatel. He says the sale-leaseback providedleverage to cut a deal.