JPMorganChase expands downtown San Francisco office presence

Business Journals

21-04-2025

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The New York bank is stepping up to revitalize downtown San Francisco, taking more office space and supporting nonprofits and small businesses downtown.
JPMorganChase said Monday that it is raising its profile in downtown San Francisco, leasing additional space at 560 Mission St., maintaining some space it leases at One Front St. and providing philanthropic support to help small businesses and nonprofits focused on downtown.
In a high-profile move, the bank will expand its presence at 560 Mission St., where it will lease almost 280,000 square feet, adding more than 65,000 square feet to the space it leases in the building built in 2002. JPMorganChase's (NYSE: JPM) downtown expansion plans at 560 Mission captured headlines in January. The bank is scheduled to announce its plans at a press conference featuring San Francisco Mayor Daniel Lurie on Monday morning.
As part of the bank's expansion at 560 Mission, the building owned by CommonWealth Partners will be renamed the JPMorganChase Center, with the addition of JPMorganChase's logo on the building's ground floor exterior and other key locations. JPMorganChase will serve as the New York-based bank's local headquarters.
'JPMorganChase is showing the kind of partnership San Francisco needs,' Lurie said in a news release Monday. 'By renaming and renovating 560 Mission as the JPMorganChase Center, they're making a clear bet on our city's future.
'My administration is focused on creating the conditions for growth downtown — through safer, cleaner streets and reforms to make permitting faster,' Lurie said. 'The message is getting out, and San Francisco is on the rise.'
JPMorganChase Center will house more than 1,600 of the bank's nearly 7,000 employees in the Bay Area.
Tenants of 560 Mission St. also have access to the building's fitness center, cafe and dining area. Building amenities have become a big draw as more employers embrace return-to-office mandates. In early March, JPMorganChase began enforcing its policy requiring most employees to come into the office five days a week. Such policies may account for signs that return-to-office efforts are working in San Francisco, according to the latest data from Placer.ai.
'Together we are committing to a significant investment into the property for JPMorganChase to deliver advanced standards of wellness, sustainability and vitality to support the firm's business for years to come,' Brett Munger, CEO and managing partner of Commonwealth Partners, said in the news release.
JPMorganChase will also maintain 125,000 square feet that it leases at One Front St. The Paramount Group-owned building once housed First Republic Bank's operations before the bank collapsed in 2023. JPMorganChase bought First Republic from regulators in May 2023.
First Republic had once leased 460,000 square feet at One Front St., according to Parmount's 2022 annual report. Chase gave up roughly 117,000 square feet of that space in the months following its First Republic purchase. Following the expiration of 244,000 square feet in July 2025, Chase was expected to have about 102,000 square feet of space at One Front represented in two leases that expire in 2029 and 2030.
JPMorganChase plans renovations at both 560 Mission and One Front to enhance workspaces, create collaboration areas and update meeting rooms. The renovations will also include pantry areas, as well as prayer and maternity rooms. The New York bank estimates the renovation work will create nearly 500 local construction jobs.
Of great significance to the city's hospitality sector, the J.P. Morgan Healthcare Conference will return to downtown San Francisco in 2026.
In January, the gathering drew about 20,000 life science company executives, venture capitalists, investment bankers and angel investors into San Francisco's Union Square in one of the industry's biggest fundraising meet-and-greet sessions of the year.
The bank also plans to open seven Bay Area J.P. Morgan Financial Centers, which were inspired by lessons learned in acquiring First Republic Bank to enhance services for wealthy clients.
JPMorganChase is also providing $3.8 million in new philanthropic support for the downtown San Francisco economy with the aim of helping small businesses grow and attract residents and visitors to downtown streets. The fresh capital will help provide small businesses with loans to technical assistance to help them establish tenancy in vacant storefronts and reduce costs for them to open and expand.
The bank's new philanthropic assistance will support Main Street Launch's Downtown San Francisco Vibrancy Loan Fund, SF New Deal's Small Business Storefront Accelerator and the San Francisco Bay Area Planning and Urban Research Association. The bank's new philanthropic support will also help the Chinatown Community Development Center's efforts to preserve and develop affordable housing and support the recovery of small businesses in San Francisco's Chinatown neighborhood.
JPMorganChase is also an executive member of AdvanceSF and a founding member of the Partnership for SF.
'We've developed a firmwide strategy to support the city's downtown revitalization,' Tim Berry, global head of corporate responsibility for JPMorganChase, said in the news release. 'Through our business and philanthropy investments, we are creating over $1.2 billion in economic growth for San Francisco to boost the downtown economy, support local businesses, create jobs and bring workers, residents and visitors back to the city.'
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