Texas Stock Exchange Eyes Bank of America Tower at Parkside

The Texas Stock Exchange is considering setting up shop at Uptown’s tallest tower.

The exchange, which has $275 million in backing from institutional investors, is negotiating with the owners of Bank of America Tower at Parkside, including Dallas-based Pacific Elm Properties, the Dallas Morning News reported.

Negotiations hinge, in part, on the exchange’s request to put a stock ticker on the building. The 10-foot-tall proposed ticker would be 28 feet above ground level. The display would serve as a reminder “that America’s economic center of gravity is shifting to Texas,” the exchange said in a statement.

Bank of America Tower at Parkside will be Uptown’s tallest tower when it’s finished in 2027. As its name suggests, the 30-story, 500,000-square-foot tower is being built for Bank of America, which plans to occupy 238,000 square feet of the building, at 1919 Woodall Rodgers Freeway.

News of the exchange’s interest in the property comes after the project landed fresh financing from San Francisco-based investor Sixth Street Capital. The amount of the equity investment wasn’t disclosed.

The move would be part of a trend of financial institutions choosing to locate in Uptown, which has become the de facto capital of Y’all Street, Dallas’ answer to Wall Street. The Texas outpost of the New York Stock Exchange recently opened an office at Crow Holdings’ prestigious Old Parkland. The campus is less than two miles from the site being considered by the Texas Stock Exchange.

In addition to Pacific Elm’s project, Hunt Realty is developing a nearby campus for Goldman Sachs. The $500 million office project will consolidate Goldman Sachs employees at its Downtown Dallas, Irving and Richardson locations. The firm’s new Dallas home will be at NorthEnd, an 11-acre mixed-use development that will include offices, retail, apartments and a hotel surrounding a 1.5-acre park.

— Jess Hardin