- JPMorgan Chase will anchor a new 170K SF office building in Crescent Fort Worth, doubling its local footprint and moving from its current downtown location.
- The building will feature office space, a gym, and two restaurants, and is expected to be completed by early 2027.
- The expansion marks continued growth in Fort Worth’s Cultural District, where new, high-end offices are leasing better than older properties.
Intro
Billionaire John Goff is expanding Crescent Fort Worth with a new 170K SF office building, per Bloomberg.
Crescent Real Estate breaks ground Wednesday; JPMorgan Chase will relocate its Fort Worth operations to the new tower.
A New Financial Hub
JPMorgan Chase will occupy three floors of the new tower, more than doubling its existing office footprint in the city. The move will see headcount grow from 160 to about 300 employees and marks a relocation from Sundance Square to the emerging financial hub forming near Fort Worth’s Cultural District.
The Project
The new mixed-use building—anchored by JPMorgan—will include office space, a gym, and two restaurants. It joins the already-completed first phase of Crescent Fort Worth, which includes a 168-unit apartment building, a 200-room hotel, an office building, and a Canyon Ranch spa. The latest phase is set for completion in early 2027.
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Class-A Space Leads The Way
Despite an 18% vacancy rate across Fort Worth’s office market, demand for new, premium office properties remains strong. According to JLL, the city saw net positive absorption last quarter for the first time since the pandemic began, driven by new construction and flight to quality.
Growing City, Growing Demand
Fort Worth recently surpassed Austin in population, becoming Texas’s fourth-largest city. Major financial institutions like Charles Schwab have already relocated to the region, and JPMorgan’s move to the Crescent is further evidence of Fort Worth’s rising stature in the business world.
What’s Next
With JPMorgan joining the tenant roster and more commercial interest shifting toward the Cultural District, Goff’s Crescent Fort Worth is helping shape a new financial corridor in one of Texas’s fastest-growing cities.
