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Wells Fargo Plans Sale of San Francisco Headquarters
Wells Fargo intends to put its San Francisco headquarters at 420 Montgomery St. on the sale market as early as this month and consolidate its operations at 333 Market St., where it leases 620,000 square feet. The San Francisco Business Times reported Thursday that these moves have fueled speculation that the bank may follow the lead of other California-based companies that relocated to Texas.
The bank reiterated that it plans to remain in the city where it was founded in 1852. A spokesperson told the Business Times, “Wells Fargo’s corporate headquarters remains in San Francisco, and we have no plans to move it out of the city.”
However, the Business Times reported that the company is spending $455 million to build an 850,000-square-foot office campus in Las Colinas, the master-planned community in the Dallas suburb of Irving, TX. It’s scheduled to open by the end of 2025.
