Tuesday, October 25, 2016

Goldman Sachs shops downtown Dallas for move that could bring hundreds of workers

One of the country's largest financial firms is considering a move to Dallas.
Goldman Sachs & Co. is in talks with building owners to relocate hundreds of workers from an office in Irving to downtown, real estate brokers who are tracking the deal say.
The New York-based investment giant is planning to rent more than 100,000 square feet of prime downtown office space in what could be one of the largest recent deals in the area.
Goldman Sachs has zeroed in on the 50-story Trammell Crow Center on Ross Avenue as a location for the office.
The company already has an investment office in Uptown's landmark Crescent complex.
This new space would be for different operations, including Goldman Sachs' real estate investment division, leasing agents say.
Landing the high-profile tenant would be a big win for Trammell Crow Center. The landmark downtown skyscraper is about to undergo a major renovation that includes adding retail space and construction of additional parking across the street.
Goldman Sachs is currently the largest office tenant in a 6-story building at 6011 Connection Dr in Irving. That's the office considering the move.
Thirteen of Goldman Sachs operating divisions - including investment banking and securities - have staff working in the Irving office, company spokesman Michael DuVally said.
"One of the largest divisions there is realty management (formerly known as Archon but now known as the realty management division), which works with the investment banking, securities and investment management divisions on everything from real estate loans on commercial and residential property to sourcing deals in the hospitality sector," DuVally said in an email. "Other divisions which have large representation in Irving include operations, finance and technology."
He wasn't able to provide any information about a potential office move.
If the relocation happens it would also be one of the biggest such moves to downtown with the potential for more than 500 new jobs.
"That size lease would make an enormous difference downtown in perception and reality, particularly based on who the tenant is," said John Crawford with the economic development group Downtown Dallas Inc.
Written by Steve Brown - Dallas Morning News