JPMorgan Chase Leases 170000 Square Feet Office Space In Fort Worth From Crescent Real Estate
Building Size
170,000 SF
Asset Type
Office
Closing
Apr 16, 2025
AI
The lease transaction involves a new office building, specifically designed to support a total of 170,000 square feet. The property is located in Fort Worth’s Cultural District and is being developed by Crescent Real Estate. The significant relocation plan underscores a strategic move from a downtown location, increasing the space occupied by JPMorgan Chase, which will now occupy 130,000 square feet in this new building.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Square Footage: 170,000
- Market: Fort Worth
- Landlord: John Goff - Crescent Real Estate
- Tenant: Elaine Agather - JPMorgan Chase
John Goff represents Crescent Real Estate in this transaction while Elaine Agather represents JPMorgan Chase. This lease represents a noteworthy trend of major firms opting for relocations to amenity-rich developments, reflecting a shift in Fort Worth’s commercial focus to the west.
Players
Market Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93