JPMorgan Signs 250K SF Lease At South Station Tower
Hines has secured another major lease at South Station Tower, filling more than half of the tower's office space.
Financial giant JPMorgan Chase signed a 250K SF lease occupying more than eight floors at the 51-story tower, the company announced Tuesday morning. This new lease will bring the building's occupancy to 65%.
"JPMorganChase has been a trusted partner of Hines for more than four decades, and we are honored to continue that partnership at South Station Tower," Hines Head of U.S. East Sarah Hawkins said in a statement.
JPMorgan also plans to place its name across the top of the tower, a deal that has been discussed for months. The sign will need city approval before it can be added.
Roughly 700 employees will move to the new space starting in 2028, but the bank said the lease has room for some 1,000 workers. The company plans to grow to hit that goal by 2029.
"This investment will bring hundreds of new jobs, strengthen our downtown, and reinforce Boston’s standing as a place where global companies choose to invest and grow," Mayor Michelle Wu said in a statement.
The banking giant will join Jones Day, Citadel and FM Global, which have all signed leases at the office tower.
This lease is part of JPMorgan's expansion plans across several markets, pushing a massive return-to-office mandate and investing billions into its office footprint.
In October, the bank opened a 60-story, 2.5M SF global headquarters at 270 Park Ave. in New York City. The building will eventually be home to more than 10,000 employees. In November, the company also announced plans to build a 3M SF office in London's Canary Wharf.
Coupled with the South Station Tower move, the company announced plans to expand its Chase retail locations across New England. Since opening its first retail location in 2018, the bank has branched out to 92 locations.
The tower also includes 166 luxury condos branded by Ritz-Carlton that stand above the office space, on the 35th floor and above.
The lease is a welcome sign for Boston's slowly recovering office market. At the end of 2025, office availability in downtown Boston stood at 23.7%, with the majority of activity taking shape in large lease renewals, according to CBRE.
The lease is one of the largest deals in recent months, following only renewals from furniture retailer Wayfair, law firm WilmerHale and financial services company BNY.
Hasbro signed the largest new lease of 2025, relocating from Rhode Island to WS Development's 400 Summer St., where it will take up 265K SF.
