JPMorgan Chase Inks 250,000 SF Anchor Office Lease at Hines' South Station Tower in Boston

JPMorgan Chase signed a 250,000 square foot lease across more than eight floors at South Station Tower, the 51-story mixed-use tower in downtown Boston developed and owned by Hines. The lease brings the tower's occupancy to 65%. Roughly 700 employees will move to the new space starting in 2028, with plans to grow to approximately 1,000 workers by 2029. JPMorgan also plans to place its name at the top of the tower, pending city approval for a 12-foot lettering sign. The building also includes 166 Ritz-Carlton-branded luxury condominiums on floors 35 and above, and sits above South Station's Amtrak rail hub. - JPMorgan Chase: The world's largest bank by assets. Executing a broad real estate expansion strategy globally; simultaneously opened its 2.5M SF global HQ at 270 Park Avenue in New York City and expanding in Boston. - Hines: Houston-based global real estate investment manager and developer. Developed South Station Tower over more than two decades; the building first opened in September 2025. 680,000 SF of total office space. Lease terms (rate, duration) were not publicly disclosed. Average Class A office asking rent in downtown Boston stood at $74.75/SF as of end-2025 (CBRE). At 250,000 SF, estimated annual base rent would be approximately $18.7 million at market rents, implying a total lease value potentially exceeding $200 million over a standard 10-year term (est.).