JLL announced on Sept. 8 that the firm has been retained to market and sell 115 West 7th St., formerly The Oncor Building, located in downtown Fort Worth. The property is owned by an affiliate of Benbrooke Realty Investment Co. The 16-story, 300,347-square-foot office building is over 90% occupied and includes two of the most popular dining destinations in downtown Fort Worth, Capital Grill and the Little Red Wasp, as well as the downtown branch for PlainsCapital Bank on the ground floor.
“We saw the potential to create Class A retail on the ground level when we purchased the building over 12years ago,” said Managing Partner George Ackerman. “Since we embarked on the ground floor renovations, we have attracted some of the highest quality restaurants and banks to downtown Fort Worth. We are very pleased to be able to pass the torch to the next owner and provide them with a high-profile tenant base.”
JLL Managing Director Ryan Matthews is leading the sales effort on behalf of ownership.
“115 West 7th will provide a growing list of developers looking in downtown with a rare opportunity to purchase a legacy asset,” said Matthews. “Its central location downtown within one of the most vibrant areas of our city offers tremendous accessibility with well-known Class A+ retail tenants onsite.We’re thrilled to play a role in its transition.”
In June, Oncor Electric Delivery Co. signed a 200,000-square foot office lease in the 777 Main tower. The new offices will take up seven floors of the building The deal makes Oncor one of the largest tenants in the 777 Main tower, which is owned by Atlanta’s Brookdale Group. Transwestern leases the building.
The $8.5 million office will take up seven floors of the skyscraper.
Oncor will be one of the largest tenants in Atlanta-based Brookdale Group’s over one million-sf high-rise.