DALLAS — JPMorgan Chase officially announced plans Tuesday to move to the bottom five floors of 1900 N. Akard St. in a shift from its namesake downtown office space at Chase Tower along Ross Avenue.
About 600 employees, along with the Chase branch on the ground floor of 2200 Ross Ave., will move to the tower that flanks Klyde Warren Park. Most of those 600 employees currently work at Chase Tower.
JPMorgan Chase will take down about 132,000 square feet at 1900 N. Akard, the building that houses Hunt Consolidated’s headquarters. At Chase Tower, the financial institution inhabits 194,000 square feet across 11 floors.
The New York-based entity, which has 14,600 employees in Dallas-Fort Worth, first backed Klyde Warren Park in 2010 with a $3 million donation. The new office space will include a newly designed client center featuring views of the park.
“Downtown is incredibly important to the future and vibrancy of this city and our region,” said Elaine Agather, chairman of JPMorgan Chase in Dallas, in a prepared statement.
JPMorgan Chase expects to complete the move to 1900 N. Akard in the third quarter of 2022.
The Dallas Business Journal previously reported talk of the bank’s move out of Chase Tower in July.
Aside from its downtown presence, JPMorgan Chase also has a massive employee base in Plano with 9,500 employees assigned to the office and the capacity to grow to 10,000. The financial institution recently completed the second phase of its Plano campus, a 12-story space with about 4,000 seats.
Diane Hornquist works with the general counsel to oversee legal activities associated with various land development and operating company initiatives. Hornquist began her legal career at the Dallas office of Jackson Walker LLP in the real estate section.
Mike Wallace is responsible for all aspects of Hunt Realty Investments overseeing the firm’s direct-owned real estate portfolio, operating company investments and other real estate activities. He is responsible for sourcing and structuring all new investment activity, as well as Hunt Realty’s interaction and investment relationship with other Hunt-related entities.
Throughout his career, he has been involved in investments in single-assets, real estate portfolios, distressed loan portfolios and private and publicly-traded companies including equity, preferred equity, mezzanine and participating debt investments. His experience spans a broad array of product sectors including office, multi-family, hospitality, retail, senior living, student housing, industrial, residential and land.
Prior to joining Hunt Realty, Wallace was with The Hampstead Group, a Dallas-based real estate private equity fund which invested approximately $1 billion on behalf of institutional and private investors. While at The Hampstead Group, his responsibilities included new investment opportunities in real estate portfolios, publicly-traded companies and distressed loan portfolio acquisitions as well as management of the fund’s investments. He also previously worked for EFO Realty, a real estate opportunity fund where he sourced and structured joint-venture equity investments.
Chris Kleinert is CEO and president of Hunt Consolidated Investments, LLC, and Co-CEO of its holding company, Hunt Consolidated, Inc. He is president of Hunt Realty Investments and oversees the operations of both Hunt Investment Group and Hoodoo Land and Cattle Company, as well as the financial activities of the holding company. Other business interests of Hunt Consolidated, Inc. include oil and gas exploration and production, petroleum refining, electric power generation and transmission. Kleinert’s affiliation with Hunt Consolidated began in 1996. Kleinert received an MBA with a concentration in finance from Texas Christian University and a BBA in marketing from Southern Methodist University. Prior to joining Hunt, he was employed by Texas Commerce Bank (now JPMorgan Chase) and General Mills. Kleinert serves on the Investment Committee of the Board of Trustees of Southern Methodist University and SMU’s Tate Lecture Board of Directors. He also serves on the Neeley School of Business International Board of Visitors at Texas Christian University, the Board of Trustees of the Communities Foundation of Texas, the Board of Directors of Amegy Bank -Dallas, and the Dallas Regional Chamber’s Board of Directors. Kleinert chairs the Board of Directors of the newly created Men’s Advocacy Group for New Friends New Life. In 2009, Chris and his wife, Ashlee, founded Executives in Action (EIA), a nonprofit organization that leveraged the talent and expertise of executives in transition with local charitable organizations to enhance their productivity, efficiency and overall impact. In 2016, EIA merged 4 with New York-based Catchafire, Inc. to form Catchafire North Texas and expand the number of volunteers and nonprofits that can be matched nationally.