Northland Properties Snags Iconic Fort Worth Tower
- Aug 10, 2018
Northland Properties Corp. has acquired the iconic Fort Worth WT Waggoner Building. JLL marketed the property on behalf of the seller, XTO Energy Inc.
Located at 810 Houston St., the 20-story building was constructed in 1920 and last underwent renovations in 2003, when the ground floor bank and elevator lobby was restored to match the original finishes of the building’s first tenant—Continental National Bank. The property comprises 137,500 square feet and is fully leased to the previous owner, XTO, according to Yardi Matrix. The sale also included the adjacent parking lot, which offers 100 spaces and is one of the last remaining undeveloped lots in downtown.
JLL’s Executive Vice President Ryan Matthews represented the seller in the transaction, while CBRE’s Senior Vice President David Walters and First Vice President Marty Neilon represented the buyer.
“In addition to its iconic status as one of downtown Fort Worth’s most recognizable and historic buildings, the WT Waggoner Building’s centralized location and the potential for future development on the remainder of the block make this a terrific investment for the new owners,” said Matthews, in a prepared statement. “Throughout the transition process, XTO has been careful and mindful in identifying a partner who will ensure the integrity of these assets for the betterment of our city. We are proud of the result for all of those involved.”
Image courtesy of JLL