XTO Energy Building in Fort Worth Sold as Company Relocates to Houston
Historic 714 Main building in Fort Worth.
FORT WORTH – Tennessee-based Development Services Group has acquired the historic 714 Main building in downtown Fort Worth.
XTO Energy, a shale-focused company owned by Exxon Mobil, recently vacated the 24-story property as part of a relocation that moved roughly 1,000 XTO employees to Exxon Mobil’s corporate campus in Springwoods Village, north of Houston.
JLL broker Ryan Matthews represented Exxon Mobil in the transaction. The 185,000-square-foot building, originally constructed in 1921, was included among six downtown XTO office sales that JLL negotiated in Fort Worth.
“As one of the largest historically registered buildings in downtown Fort Worth, 714 Main presents significant redevelopment upside and the potential to become a transformational project for the city,” said Matthews. “Its central location and redevelopment possibilities make 714 Main an attractive investment for the new owners. We are pleased to have played a role in this transition.”
Built in 1921 and renovated in 2010, 714 Main contains more than 185,000 square feet of office space. The building’s central setting provides immediate access to a wide range of dining, shopping and entertainment options; both the Fort Worth Convention Center and Sundance Square are within two blocks.
To date, JLL has negotiated the sale of six XTO office assets in Fort Worth, including the historic WT Waggoner Building at 810 Houston Street, which sold in August to Northland Properties, owned by Dallas Stars owner Tom Gaglardi. With the sale of 714 Main, XTO has completed the disposition of its downtown holdings tied to the company’s headquarters move to Houston. XTO’s Central Division employees are now located in the Simpson Building.
