Chase Moving Offices to Fort Worth Cultural District

JPMorgan Chase will be the anchor tenant of a Fort Worth office building being developed by billionaire John Goff, marking another high-profile exit from the city’s central business district, Bloomberg reported.

Goff’s firm, Crescent Real Estate, will start construction this week on a 170,000-square-foot office building that will serve as the next phase of its Crescent Fort Worth development. The project, located near the city’s Cultural District, will include a gym, two restaurants and Class A office space. It is slated to be delivered in early 2027.

JPMorgan will occupy three floors, relocating from its longtime office at 420 Throckmorton Street and nearly doubling its space to roughly 130,000 square feet.

The bank expects to have about 300 employees in the space, up from 160 at its existing location, as it consolidates operations within Goff’s expanding mixed-use hub. Crescent Fort Worth already includes a 168-unit apartment building, 200-key hotel, a spa and office space.

JPMorgan’s move reflects broader trends in Fort Worth’s office market. While vacancy sits at about 18 percent, newly built and top-tier space continues to attract tenants. Fort Worth posted positive net absorption for the first time since the pandemic in the first quarter.

The move also underscores an ongoing decentralization of Fort Worth’s office core. JPMorgan follows other major companies that have migrated out of the city’s central grid in favor of newer, amenity-rich districts.

The latest includes Wells Fargo, which will jump ship this year from its namesake building at 201 Main Street to another new mixed-use office tower in Clearfork. Charles Schwab moved its headquarters to Westlake four years ago, and BBVA also vacated a portion of its downtown space in recent years.

Morgan Stanley expanded to a second location at the Crescent East office building last July but maintains its office downtown at 201 Main Street.

“Something of a financial district is forming just adjacent to the Fort Worth Cultural District,” JPMorgan’s Dallas region chair Elaine Agather told the outlet.

Goff, whose firm also developed The Crescent in Dallas, said the bank’s commitment validates Crescent Fort Worth’s vision as the city’s next business epicenter.

The project could set a new tone for office development in Fort Worth, shifting the city’s commercial gravity westward and reinforcing a post-pandemic realignment already underway.

— Judah Duke