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News release

FORT WORTH

Historic Fort Worth property goes to market, JLL selected to facilitate sale

Seller provides rare opportunity in prominent location


FORT WORTH, August 1, 2017 – JLL today announced the firm has been selected to sell the Petroleum Building and adjacent parking garage on behalf of XTO Energy Inc. The 14-story office property and 12-story garage are centrally located and comprise one city block in downtown Fort Worth.

JLL Executive Vice President Ryan Matthews will lead the marketing efforts.

"We are proud to play a role in the transition of this tremendous asset," said Matthews. "The region continues to benefit from rapid growth, a strong, diversified economy and job gains. The assets provide tremendous value-add opportunities and potential for attracting a number of local and regional users and investors."

"We are very pleased to be working with XTO, JLL and the Fort Worth Chamber of Commerce to ensure the best use of these strong downtown assets," said City of Fort Worth Economic Development Director Robert Sturns.

The Petroleum Building includes nearly 94,000 square feet of rentable office space in the historic highrise. The adjacent parking garage provides 534 parking spaces, and is connected to the Petroleum Building by an enclosed skywalk. The garage also offers two levels of retail or office space totalling 31,175 square feet of rentable space with an additional 23 parking spaces on the adjacent surface lot at the corner of 5th Street and Throckmorton.

"The Chamber, City, JLL and XTO Energy are working together to aim for the highest and best use of these buildings," said Fort Worth Chamber of Commerce Executive Vice President of Economic Development Brandom Gengelbach. "The beautifully restored art deco Petroleum building -- with its one-block footprint, adjacent garage, and proximity to Sundance Square, City Hall and the Convention Center – opens up opportunities for corporate relocations as well as expanding local companies."

Strong fundamentals make downtown Fort Worth one of the city's most dynamic submarket. Total vacancy downtown through Q4 2016 is at 12.5% due in part to its highly-desirable location and accessibility to walkable amenities and entertainment.

For more information about The Petroleum Building and Executive Garage, please contact Ryan Matthews at +1 817 334 8101 or Ryan.Matthews@am.jll.com.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $136 billion. At the end of the first quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of more than 78,000. As of March 31, 2017, LaSalle Investment Management had $58.0 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.