Chase to consolidate operations at Republic Road building

Last edited 9:57 a.m., July 27, 2023 [Editor's note: Lease information has been added.]

Chase Card Services, one of the Springfield area's largest employers, is consolidating operations on Republic Road.

A company spokesperson provided a statement to Springfield Business Journal indicating the west building on the campus soon would house all of the call center's employees. It previously occupied the entire nearly 270,000-square-foot call center at 303 E. Republic Road.

"Over the next few months, we are bringing all employees together into the west building, which will improve collaboration, make our teams stronger, provide more opportunities for employees to learn and grow, and positively impact our culture," the statement reads. "We continually review our real estate footprint to operate more efficiently and still offer a world-class work environment for our employees."

Spokesperson Brian Hanover said via email there's "nothing else to add right now regarding the space that will be vacated." The spokesperson said the company has not conducted layoffs as part of the plans. The size of the portion of the building that Chase is consolidating into could not be confirmed by deadline.

Chase Card Services, a subsidiary of JPMorgan Chase & Co. (NYSE: JPM), opened the center in 1998, according to past reporting. Chase no longer owns the building, the spokesperson said, noting the entity that does is called Sentinel JPMC LLC. Greene County recorder data show Sentinel JPMC purchased the building in March 2022. SBJ in 2008 reported that Los Angeles-based Fort Properties Inc. purchased the building from Toronto-based Brookfield Asset Management Inc.’s Brookfield Real Estate Opportunity Group.

On its website, landlord Sentinel Net Lease LLC indicates that "current ownership has received many inquiries over the past several years about available space, especially from nearby medical providers including CoxHealth." Laura Nguyen, director of investor relations and marketing for Sentinel Net Lease, said via email that the south wing of the building is currently being marketed for lease. The remainder of the building is leased to Chase, Nguyen said, and is not on the market.

Chase Card Services ranked No. 20 on SBJ's list this year of the area's largest employers. The company reported 992 local employees, down from 1,200 in 2022, for the list published May 29. Five years ago, the local office employed 1,478 people, according to past SBJ reporting.