Leases  ·  Office

J.P. Morgan Chase to Double Miami Office

The bank’s also leasing new space from Related Companies in West Palm Beach

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J.P. Morgan Chase is doubling down in South Florida, expanding its Miami office and opening a new one in West Palm Beach, the bank announced.

The finance giant is doubling its office at the 34-story 1450 Brickell Avenue to encompass 160,000 square feet. The expansion, which is scheduled to take about two years to complete, will accommodate 900 employees in total. 

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“Miami and South Florida are home to an increasing number of our clients, customers, community partners and employees, and it’s a strategic location for our operations in Latin America as well,” Jonathan Bello, head of the bank’s Miami office, said in a statement.

A spokesperson for Blanca Commercial Real Estate, which represents landlord Amkin Real Estate, did not immediately provide comment.

In West Palm Beach, the bank inked a 13,000-square-foot lease at Related Companies360 Rosemary office building. The office will house 60 staffers.

Last month, the New York-based developer announced J.P. Morgan as one of its newest tenants, but declined to divulge the size of the office. At 360 Rosemary, a 20-story office building completed in 2021, the bank will join other finance heavyweights: Goldman Sachs, Point72 Asset Management and Elliot Management

A retail expansion is also underway in Palm Beach County, where J.P. Morgan Chase will open branches in Palm Beach, Jupiter and Palm Beach Gardens early next year.

Julia Echikson can be reached at jechikson@commercialobserver.com