Texas Capital Bank’s Corporate Headquarters to be Named Texas Capital Center

Rhea-AI Summary

Texas Capital Bancshares, Inc. (NASDAQ: TCBI) has signed a 15-year lease for its headquarters at 2000 McKinney Avenue in Dallas, expanding its space to over 200,000 square feet across seven floors. The new location will be named Texas Capital Center and includes renovations and additional floors. This move aims to enhance workplace experience and accessibility in Uptown Dallas, with construction expected to begin in early 2023 and wrap up in 2024.

Positive

• New 15-year lease expands Texas Capital Bank's headquarters to over 200,000 square feet.
• Renovations and additional floor acquisitions will enhance employee and client experiences.
• Prime location in Uptown Dallas, increasing visibility and accessibility.

Negative

• None.

New lease executed for building located at 2000 McKinney Avenue in Dallas

DALLAS, Oct. 12, 2022 (GLOBE NEWSWIRE) -- Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital Bank (the “Bank”), today announced new plans for its headquarters located in Dallas.

Texas Capital Bank has executed a 15-year lease term with Union Investment Real Estate GmbH, owner of 2000 McKinney Avenue, and will rename the entire building to Texas Capital Center. The new lease will increase the Bank’s footprint to encompass more than 200,000 square feet across seven floors, which includes its existing banking center located in the lobby. Texas Capital Bank plans to retain and renovate two existing floors and acquire and buildout a contiguous block of floors in the midrise.

“We are very excited about the unique and improved experiences this new lease will provide our employees and clients,” said John Cummings, Executive Vice President, Chief Administrative Officer of Texas Capital Bank. “This location, in the heart of Uptown Dallas, is highly desirable and easily accessible. Our plans for this new space are reflective of our continued journey to become the flagship financial institution in Texas.”

In addition to naming rights of the building, the new lease provides Texas Capital Bank with the installation of larger, more visible signage at the crown of the establishment. The building includes a total of 21 floors, a multi-story parking garage, a fitness center, an onsite fast casual food option, and a formal restaurant.

“We are reconfiguring Texas Capital Bank’s corporate real estate portfolio by creating a workplace experience that aligns with our values and culture,” said Catherine Zalatoris, Texas Capital Bank’s Executive Vice President, Head of Corporate Real Estate. “We are an employer of choice that invests in our teams and workspaces to accommodate our continued growth, while fostering a new sense of workplace pride.”

Texas Capital Bank, which first moved its headquarters to the building in 2008, has begun design and planning for the new Texas Capital Center with the goal of meeting the future needs of its employees and clients. Construction is slated to begin in early 2023 and will be completed in phases throughout 2024.

About Texas Capital Bank
Texas Capital Bancshares, Inc. (NASDAQ^®: TCBI), a member of the Russell 2000^® Index and the S&P MidCap 400^®, is the parent company of Texas Capital Bank, a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs, and individual customers. Founded in 1998, the institution is headquartered in Dallas with offices in Austin, Houston, San Antonio, and Fort Worth, and has built a network of clients across the country. With the ability to service clients through their entire lifecycles, Texas Capital Bank has established commercial banking, consumer banking, investment banking and wealth management capabilities. For more information, please visit www.texascapitalbank.com. Member FDIC.

About Union Investment
Union Investment stands for forward-looking real estate investments worldwide. Our business model is underpinned by 55 years of real estate expertise. With assets under management of around EUR 49 billion, Union Investment is one of Europe’s leading real estate investment managers. The company invests in the office, retail, hospitality, logistics and residential sectors and holds around 440 commercial properties across 23 countries worldwide in its portfolio. In the U.S. and Mexico, Union Investment actively manages 34 properties worth a total of EUR 5.4 billion. For additional information, visit https://realestate.union-investment.com.

FAQ

What is the new lease agreement for Texas Capital Bancshares, Inc. at 2000 McKinney Avenue?

Texas Capital Bancshares has executed a 15-year lease for its headquarters at 2000 McKinney Avenue, expanding its footprint to over 200,000 square feet.

When will construction for the new Texas Capital Center begin?

Construction for the new Texas Capital Center is slated to begin in early 2023 and is expected to be completed in phases throughout 2024.

What benefits does the new Texas Capital Bank location provide?

The new location will provide a larger space, improved employee and client experiences, and better visibility with enhanced building signage.

How will the Texas Capital Center affect Texas Capital Bank's operations?

The Texas Capital Center aims to foster a better workplace environment, accommodating the bank's growth and enhancing operational capabilities.