Goldman Sachs triples down on Dallas with office lease

The bank plans to renovate 5 floors of a tower on North Harwood

Goldman Sachs' David Solomon with 717 North Harwood Street (Illustration by The Real Deal with Getty, Google Maps)
Goldman Sachs' David Solomon with 717 North Harwood Street (Illustration by The Real Deal with Getty, Google Maps)

Ahead of the completion of its Dallas headquarters, Goldman Sachs is securing its foothold in the city.

While the Manhattan-based bank’s new offices north of downtown Dallas won’t open until 2026, the it is leasing five floors at 717 North Harwood Street. The offices span more than 130,000 square feet and could accommodate hundreds of workers once renovations are done.

The $11.5 million renovation will fill one of the largest blocks of empty office space in the 34-story tower. The renovation has an expected completion date in June, according to the Dallas Morning News.

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The Harwood Tower changed hands less than a year ago. The downtown high-rise had been owned by an investment partnership headed by Austin businessman Nate Paul’s World Class Capital Group since 2014. World Class Capital spent millions of dollars to renovate the 850,000-square-foot downtown building. In the Summer of 2021, lender JPMorgan Chase scheduled a forced sale of the tower, claiming in legal filings that the owners had defaulted on $75 million in loans. Less than a year later, Manhattan’s Dalan Management acquired the tower — plus $76.8 million in debt — out of bankruptcy.

The space on Harwood Street would be Goldman’s third active office space in the metroplex. The bank already has about 2,000 workers in downtown’s Trammell Crow Center on Ross Avenue. It also has offices in Richardson.

— Maddy Sperling