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Wednesday, April 17, 2024

JPMorgan Chase Provides 31K sf to Downtown Dallas Workplace Footprint

As firms flock to Uptown Dallas, JPMorgan Chase is giving life to downtown’s torpid workplace market.

The monetary providers agency has expanded its footprint at 1900 North Akard Road by 31,000 sq. ft, upping its occupancy within the 14-story constructing to 167,000 sq. ft throughout the primary six flooring, the Dallas Morning Information reported

“Our development in Dallas retains going,” JPMorgan’s Elaine Agather advised the outlet. “We’re excited to extend our presence in such an attractive, well-located workspace. The power you’re feeling strolling inside is tangible.”

The corporate now leases a few third of the 480,000-square-foot constructing, which bodes effectively for the owner, Hunt Realty. JP Morgan’s preliminary lease by way of the primary 5 flooring, signed in 2022, adopted 10 months of renovations by Hunt. JPMorgan relocated its Dallas workplace from the previous Chase Tower at 2200 Ross Avenue. 

The corporate plans to improve its house on the sixth flooring with enhancements to the workplaces, convention rooms, restrooms and a break room, the outlet reported, citing a submitting with the Texas Division of Licensing and Regulation. The renovation, led by Austin-based structure agency Corgan, is scheduled to start in Could and be accomplished by 12 months finish.

The transfer underscores JPMorgan’s dedication to Texas, with CEO Jamie Dimon highlighting the state’s business-friendly setting throughout a current go to to Houston. Texas has seen a surge in JPMorgan’s worker rely, surpassing New York lately, with over 30,000 workers within the Lone Star State in comparison with lower than 29,000 in New York.

The Akard Road constructing, constructed in 2007, has additionally been residence to the Dallas Petroleum Membership since final 12 months, and it serves because the headquarters for oil and fuel firm Hunt Consolidated, which is the mum or dad firm of Hunt Realty.

In the meantime, in downtown Chicago, JPMorgan Chase plans to absolutely renovate its 55-story namesake tower at 10 South Dearborn Road.

—Quinn Donoghue 

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