Bank of Texas will be relocating its downtown Fort Worth office to 777 Main Street after negotiating a 21,328-square-foot lease in the high-profile building.
JLL announced April 10 it had negotiating the lease lease for the bank, a division of BOK Financial.
Bank of Texas will relocate from its current Burnett Plaza location at 801 Cherry St. to the 777 Main building to accommodate projected growth in the market, according to the JLL news release.
“We are eager about our upcoming move and look forward to having additional space for future growth of our team,” said Mark Nurdin, Bank of Texas president and CEO for the Fort Worth Region. “The accessibility of downtown, being adjacent to the energy of Sundance Square and the amenities 777 Main offers is a unique opportunity for our team and something we are very excited about.”
“Bank of Texas has been in the Fort Worth market for over 15 years,” said Mark Wade Bank of Texas president and Chief Operating Officer. “Relocating into the heart of downtown Fort Worth not only confirms our commitment to our current clients, it also reinforces to the community that the Fort Worth market is a priority for Bank of Texas.”
JLL Managing Director Pat McDowell and Executive Vice President Brooke Armstrong negotiated the new office lease on behalf of Bank of Texas. Transwestern’s Whit Kelly represented The Brookdale Group, owners of 777 Main Street.
“Bank of Texas’ new office reinforces their commitment to the region, their growing client base and to their employees,” said Armstrong “The amenities and walkability of downtown Fort Worth and Sundance Square create a unique and enjoyable business environment for their clients and staff, and allows them to remain near other leading professional service companies.”
According to JLL Research, the Downtown Fort Worth remains one of the tightest submarkets in the area. As of Q4 2017, total vacancy for the submarket was at 11.8 percent, second only to West/Southwest Fort Worth which was at 9.5 percent. Additionally, Downtown is demanding the market’s highest average direct rent rates per square foot at $26.67.