The New York Stock Exchange (NYSE) has reportedly planted its flag in Dallas, securing a 28,000-square-foot lease at the Old Parkland development.
Situated at 3819 Maple Ave., Old Parkland was redeveloped from a hospital campus into an office park by Crow Holdings. The property is a designated city landmark. First built in 1913, it’s known for its Classical Revival and Georgian style and is one of the oldest public hospital campuses still in existence. With additions over the years, the campus now spans more than 9.5 acres.
Steve Triolet, a senior vice president at Partners Real Estate, likened the property to a “luxury country club for offices,” according to The Real Deal.
In February, NYSE announced it would be shuttering its Chicago location and setting up a shop in Dallas to get in on the city’s growing role as a financial hub.
“As the state with the largest number of NYSE listings, representing over $3.7 trillion in market value for our community, Texas is a market leader in fostering a pro-business atmosphere,” said Lynn Martin, the president of NYSE Group. “We are delighted to expand our presence in the Lone Star State, which plays a key role in driving our U.S. economy forward.”
NYSE isn’t the only exchange coming to town. As previously reported by CandysDirt.com, the Texas Stock Exchange is looking to launch operations in Dallas sometime next year. It leased temporary space at Weir’s Plaza but plans to establish its permanent accommodations somewhere in the central business district.
Y’all Street, as the city’s financial sector is being called, has grown by leaps and bounds in recent years. This has been in no small part due to the explosive growth in D-FW more broadly.
D-FW is now home to more than 380,000 financial sector employees, surpassing the Chicago and Los Angeles metro areas. Major Wall Street firms — including Goldman Sachs, JPMorgan Chase, Wells Fargo, Bank of America, and Charles Schwab — have launched multi-billion dollar campuses across the region.
