714 Main
JLL is marketing another XTO Energy property. The real estate firm announced June 5 it is selling 714 Main on behalf of XTO Energy Inc. The 24-story office property is located within the core of downtown Fort Worth at the corner of Main and 7th streets.
Built in 1921 and renovated in 2010, 714 Main currently has 185,757 square feet of office space. The property’s central location is close to dining, shopping and entertainment areas. The Fort Worth Convention Center and Sundance Square are nearby as well.
JLL Executive Vice President Ryan Matthews will lead marketing efforts for the property.
“Properties within the downtown core are being aggressively pursued by residential and hospitality developers, and 714 Main provides a rare opportunity to become a key stakeholder in downtown Fort Worth’s vibrant urban environment,” said Matthews. “As one of the largest, historically-registered buildings in downtown, 714’s re-development upside is significant. The potential capital investment, if the asset were to be repurposed, will no doubt make this a transformational project for downtown Fort Worth.”
JLL has negotiated the sale of four of the initial seven XTO office assets in Fort Worth, including most recently the Petroleum Building at 201 West 6th Street. Matthews is currently leading the marketing efforts for XTO’s WT Waggoner Building at 810 Houston Street and expects to finalize a sale this summer.
Irving-based Exxon Mobil Corp., owner of XTO Energy, announced in the summer of 2017 that it planned to sell six of the buildings and would transfer 1,600 workers from Fort Worth to Houston by 2020.