DALLAS-MoneyGram International Inc. will relocate its corporate headquarters from St. Louis Park, MN to this North Texas city. The global payments company has signed a 10-year lease for 45,842 square feet of class A office space at 2828 N. Harwood, a 20-story office building near Uptown.
The move is part of the company’s previously announced global initiative to reduce costs, streamline its global operations and position the company for long-term success, according to a statement from MoneyGram. The company has a new management team in place including Pamela Patsley, chairman and CEO. She, along with other management executives, is based in Dallas.
The relocation will be completed by the end of the year and will initially involve about 75 positions. By mid-2012, about 150 MoneyGram positions will be located in Dallas. The St. Louis Park location will continue to serve as a center of technology and operations for the company.
Patsley says nearly 10% of MoneyGram’s agent locations in the U.S. are in Texas. “Locating the company’s headquarters in Dallas provides us with important access to agents, customers and the growing Latin America market, as well as multi-lingual employees with global experience,” she says.
In fact, Texas is a top-10 U.S. money transfer market for the company, and ranks second in number of MoneyGram locations in the United States. The state is home to more than 3,350 MoneyGram agent locations and with its proximity to Latin America, a key remittance region, Texas is an important hub for MoneyGram, the company notes.
MoneyGram initially considered 15 different buildings in Dallas before focusing its attention on 2828 N. Harwood, according to Jeff Staubach, a senior vice president with Jones Lang LaSalle’s local office. He represented MoneyGram International along with Brooke Armstrong, a vice president with Jones Lang LaSalle. The landlord, Harwood International, was represented internally by Jihane Boury, vice president of leasing and development, and David Roehm, executive vice president.
“MoneyGram wanted to be in class A space in or around downtown, and in a perfect world, they wanted to be in Uptown,” Staubach tells GlobeSt. He notes that the 220,661-square-foot building is conveniently located to the cultural district and Victory Park. It also boasts covered parking and a large amenity base of restaurants nearby. “All of these things will help attract and retain young professionals,” he says.
MoneyGram will occupy the 10th and 15th floor of 2828 N. Harwood, which is the fourth out of 17 phases planned for Harwood International’s Harwood District. The firm joins other Harwood tenants including Boston Consulting Group, Frost Bank, Harwood International, Jones Day, Rolex, McGuire, Craddock & Strother and Amegy Bank.
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