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Morgan Stanley plans $684M Dallas hub with 700K SF tower
The firm will lease 255K square feet at Fountain Place while it waits for a new 700K square-foot high-rise at 2401 McKinney Ave., with 1,500 employees based there through 2031.
Morgan Stanley plans to invest $684 million in a new regional hub in Uptown Dallas, Texas, as Texas Gov. Greg Abbott confirmed the expansion. Bisnow reported that the project is tied to two office phases, beginning with a temporary location this summer.
The company signed a temporary lease for 255,000 square feet at Fountain Place in downtown Dallas while construction of a new 700,000 square-foot high-rise at 2401 McKinney Ave. in Uptown is underway. Bisnow said Morgan Stanley expects to invest about $97 million in the Fountain Place tower at 1445 Ross Ave., which will house 1,500 employees through 2031.
The remaining $587 million will be directed to the Uptown tower, with Trammell Crow Co. set to build it with an expected 16-year lease term starting in 2031. Bisnow also noted that Dallas City Council approved an $18.5 million incentive package for the project in June, and Morgan Stanley aims to reach 3,800 employees at the campus by the end of 2035.