Morgan Stanley officially picks Dallas for $1.2B regional hub

Key Points:

• Morgan Stanley has officially chosen Dallas for its billion-dollar regional hub, planning to bring thousands of employees to the city's growing “Y’all Street” financial district, with a temporary office at Fountain Place before moving to a new Uptown campus by 2031.
• The company will lease about 255,000 square feet at Fountain Place for just over four years and is expected to invest nearly $97 million and create 1,500 jobs there by 2031, with a total investment of more than $587 million in the new 700,000-square-foot Uptown campus.
• Developer Trammell Crow Company will invest approximately $650 million in the new Morgan Stanley office, making the development’s total value exceed $1.2 billion, supported by over $43 million in state incentives including a Texas Enterprise Fund grant.
• Local officials widely praised the expansion as a significant boost to Dallas’s financial sector, reinforcing the city’s status as a strategic hub for finance and innovation alongside other recent major developments by firms like Goldman Sachs and Scotiabank.
• The move is part of a broader trend of financial institutions investing heavily in Dallas, with additional projects such as the Texas Stock Exchange’s lease in the new Bank of America Tower contributing to the rise of the Uptown and Victory Park financial corridor.