Wells Fargo is exploring options to consolidate its workforce and shrink its office footprint in San Antonio.
The banking giant occupies about 1.1 million square feet across the city, with most of its space being in the Home Mortgage Operations Center at 4101 Wiseman Boulevard on the Far West Side, the San Antonio Business Journal reported.
A possible location for Wells Fargo to concentrate its operations is the SWBC Tower at 9311 San Pedro Avenue. Wells Fargo Advisors, the firm’s retail brokerage subsidiary, occupies just over 18,000 square feet in the building. Generations Federal Credit Union recently left its space on the 11th floor, giving Wells Fargo a chance to expand its footprint at the site.
Wells Fargo’s lease in the SWBC Tower expires on January 1, 2024, but the firm is now considering a one-year extension in light of its consolidation plans.
Aside from its Wiseman location, Wells Fargo’s largest office in the city is a 33,000-square-foot space at 40 NE Loop 410. It also occupies 25,000 square feet at 750 East Mulberry Avenue, 9,000 square feet at 777 East Sonterra Boulevard, and 6,000 square feet at 300 East Sonterra, the outlet said.
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In the Dallas area, meanwhile, Wells Fargo is expanding its operations significantly. The firm is building a $455 million, 800,000-square-foot campus in Irving, which is scheduled to open in 2025. The regional headquarters is slated for two 10-story office buildings on a 22-acre campus and is expected to house over 3,000 workers.
—Quinn Donoghue