As companies flock to Uptown Dallas, JPMorgan Chase is giving life to downtown’s lethargic office market.
The financial services firm has expanded its footprint at 1900 North Akard Street by 31,000 square feet, upping its occupancy in the 14-story building to 167,000 square feet across the first six floors, the Dallas Morning News reported.
“Our growth in Dallas keeps going,” JPMorgan’s Elaine Agather told the outlet. “We are excited to increase our presence in such a beautiful, well-located workspace. The energy you feel walking inside is tangible.”
The company now leases about a third of the 480,000-square-foot building, which bodes well for the landlord, Hunt Realty. JP Morgan’s initial lease through the first five floors, signed in 2022, followed 10 months of renovations by Hunt. JPMorgan relocated its Dallas office from the former Chase Tower at 2200 Ross Avenue.
The company plans to upgrade its space on the sixth floor with improvements to the offices, conference rooms, restrooms and a break room, the outlet reported, citing a filing with the Texas Department of Licensing and Regulation. The renovation, led by Austin-based architecture firm Corgan, is scheduled to begin in May and be completed by year end.
The move underscores JPMorgan’s commitment to Texas, with CEO Jamie Dimon highlighting the state’s business-friendly environment during a recent visit to Houston. Texas has seen a surge in JPMorgan’s employee count, surpassing New York in recent years, with over 30,000 employees in the Lone Star State compared to less than 29,000 in New York.
The Akard Street building, constructed in 2007, has also been home to the Dallas Petroleum Club since last year, and it serves as the headquarters for oil and gas company Hunt Consolidated, which is the parent company of Hunt Realty.
Meanwhile, in downtown Chicago, JPMorgan Chase plans to fully renovate its 55-story namesake tower at 10 South Dearborn Street.
—Quinn Donoghue
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