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ADDISON, TX-Fifteen days after quietly opening the office, WMC Mortgage Corp., headquartered in Woodland Hills, CA, yesterday held a “meet and greet” for the Dallas-Fort Worth brokerage community in a 24,851-sf office that it subleased from IBM for the duration of its commitment to Equity Office Properties Trust.

The 48-year-old California lender has ventured outside its native state’s border for the first time in years. WMC Mortgage tapped Cushman & Wakefield of Texas Inc. in late May to find a location for a regional processing center that could be ready to light by Aug. 4, Susan McClure, C&W director, tells GlobeSt.com.

McClure says the search pinpointed 15 sites, but IBM’s class A space in the Colonnade III Tower at 15305 Dallas Parkway in Addison made the deal. “Suffice it to say we got a very attractive below-building rate,” she says. “It was an outstanding lease package.” The deal included top-of-the-line furniture, including complete wall systems, free rent in the first year and “a generous TI allowance,” she confides.

The free rent, says McClure, provides breathing space for WMC Mortgage to ramp up. The firm will have 100 sales and IT professionals in place by year’s end and as many as 350 could on board by the time it’s done cherry-picking the DFW employment scene.

McClure and C&W’s Bill McClung in Dallas and Carl Muhlstein from C&W’s LA office represented WMC Mortgage in the negotiations for the entire fifth floor at the Colonnade III. David Cook of Dallas-based Staubach Co. brokered for IBM.

WMC president Amy Brandt said in a press release that the Dallas office will begin like the California did–with a production goal of $200 million per month. Today, the headquarters operation churns out $700 million per month. Dallas, she said, was “the most attractive location” when the decision was made to expand to the Southwest US.

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