714 Main in downtown Fort Worth acquired by development group
Sale marks the sixth successful disposition of XTO’s downtown office properties by JLL, totaling 600,000 square feet
FORT WORTH, November 29, 2018 – JLL announced today the firm has successfully completed the sale of the iconic 714 Main on behalf of XTO Energy Inc. to Tennessee-based Development Service Group Inc. The 24-story office property is located within the core of downtown Fort Worth at the corner of Main and 7th Streets.
JLL Executive Vice President Ryan Matthews represented the energy company in the transaction after leading marketing efforts for the asset.
"As one of the largest, historically-registered buildings in downtown Fort Worth, 714’s re-development upside is significant and has the potential to be a truly transformational project for our city,” said Matthews. “Its centralized location and the opportunity for its re-development make 714 Main an outstanding investment for the new owners. We are thrilled to play a role in its transition.”
Built in 1921 and renovated in 2010, 714 Main currently encompasses over 185,000 square feet of office space. Its central location offers close proximity to abundant dining, shopping and entertainment options with the Fort Worth Convention Center and Sundance Square each two blocks away.
To date, JLL has successfully negotiated the sale of six of XTO’s office assets in Fort Worth, including most recently the historic WT Waggoner Building at 810 Houston Street to Dallas Stars' owner Tom Gaglardi’s Northland Properties group in August. With the sale of 714 Main, XTO has completed the sale of its downtown buildings related to the company’s headquarters move to Houston. XTO’s Central Division employees now occupy the Simpson building.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with operations in over 80 countries and a global workforce of 88,000 as of September 30, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.