The JPMorganChase Center in Seattle has officially replaced the former Russell Investments Center, reflecting the bank's expansion in the area. This skyscraper, located at 1301 Second Ave, now features an additional 40,000 square feet of office space, bringing JPMorganChase's total occupancy to 128,000 square feet.
With the relocation of its Seattle Tech Center from 1201 Third Ave., the company is enhancing its presence in the city, which currently employs about 850 individuals, including 400 tech workers. This marks a slight increase from 380 last year. The Seattle Tech Center, established in 2018, focuses on key tech areas such as cybersecurity and machine learning.
In addition to its expansion, JPMorganChase announced $1.5 million in grants to five local nonprofits, aiming to support community development. This move comes as downtown Seattle faces a commercial vacancy rate of 34.7%, a record high influenced by the ongoing shift to hybrid work. Zillow, a previous tenant of the building, has reduced its office space due to remote work policies, with over 70% of its staff working off-site.