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XTO Energy moving 1,600 employees to The Woodlands, selling six of seven buildings.

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#101 renamerusk

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Posted 28 August 2017 - 01:43 PM

 

Gotta wonder how great the Woodlands relocation is looking right now.

 

... So why put another part of its business vulnerable to floodings . Houston area flooding is more common by storms than a downtown Fort Worth tornado. If Exxon ever wanted to leave the HQ in Plano. I highly doubt they would move to Houston.

 

Even though the XTO relocation was difficult for Fort Worth to accept, it is understandable from a business point of view that Exxon would want to consolidate its business in one locale.  A large concentration of refineries, petro chemical businesses, the ship channel makes Houston the ideal place for energy companies.

 

This consolidation works across industries.  It is why I never believed that American Airlines would relocate to Downtown Dallas or other even Downtown Fort Worth when its key airport is DFW, its training and maintenance is concentrated in DFW; and flight center is at DFW; or that the Motion Picture Studios choosing to be concentrated in Hollywood.

 

What does not make sense is Exxon's administrative arm remaining in Irving and being a great distance away from its operational support and infrastructure..



#102 Now in Denton

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Posted 28 August 2017 - 06:20 PM

 

 

Gotta wonder how great the Woodlands relocation is looking right now.

 

... So why put another part of its business vulnerable to floodings . Houston area flooding is more common by storms than a downtown Fort Worth tornado. If Exxon ever wanted to leave the HQ in Plano. I highly doubt they would move to Houston.

 

Even though the XTO relocation was difficult for Fort Worth to accept, it is understandable from a business point of view that Exxon would want to consolidate its business in one locale.  A large concentration of refineries, petro chemical businesses, the ship channel makes Houston the ideal place for energy companies.

 

This consolidation works across industries.  It is why I never believed that American Airlines would relocate to Downtown Dallas or other even Downtown Fort Worth when its key airport is DFW, its training and maintenance is concentrated in DFW; and flight center is at DFW; or that the Motion Picture Studios choosing to be concentrated in Hollywood.

 

What does not make sense is Exxon's administrative arm remaining in Irving and being a great distance away from its operational support and infrastructure..

 

 

Come on. I know why we have oil tankers and such in Houston. You did not think I expected oil tankers to dock in Fort Worth ? Office staff can keep that part of the gas company business going here in Fort Worth. Or heck even if XTO moves to Dallas, Plano or Oklahoma City. When. Not if. When the next flood comes. If anything. This sad situation MAKES Volare point. I don't know how Woodland made out in this storm. But it is business as usual with the staff at XTO in downtown Fort Worth. 



#103 renamerusk

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Posted 28 August 2017 - 07:04 PM

 

This consolidation works across industries.....What does not make sense is Exxon's administrative arm remaining in Irving and being a great distance away from its operational support and infrastructure..

 

Come on. I know why we have oil tankers and such in Houston. You did not think I expected oil tankers to dock in Fort Worth ? Office staff can keep that part of the gas company business going here in Fort Worth. Or heck even if XTO moves to Dallas, Plano or Oklahoma City. When. Not if. When the next flood comes. If anything. This sad situation MAKES Volare point. I don't know how Woodland made out in this storm. But it is business as usual with the staff at XTO in downtown Fort Worth. 

 

 Obviously, the administrative tasks can be performed at any distance with today's technology but reducing or eliminating travel expenses goes to the bottom line.  If a local oil gas engineer or supplier to the refinery or other support infrastructure can meet with administration in 1-2 hours instead of requiring suppliers to take overnight travel, then the efficiency of this process makes sense. 

 

I don't think it is fair to evaluate The Woodlands decision on the impact of a storm.



#104 Doohickie

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Posted 28 August 2017 - 07:26 PM

I don't think it is fair to evaluate The Woodlands decision on the impact of a storm.


No, that's just the icing on the cake.


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#105 renamerusk

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Posted 28 August 2017 - 07:41 PM

 

I don't think it is fair to evaluate The Woodlands decision on the impact of a storm.


No, that's just the icing on the cake.

 

 

"the cake?" :huh:



#106 Doohickie

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Posted 28 August 2017 - 07:47 PM

In other words, the decision to move was bad even before Harvey.


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#107 renamerusk

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Posted 28 August 2017 - 08:09 PM

In other words, the decision to move was bad even before Harvey.

 

And heaven forbids if the next notable company relocation to Fort Worth is ravaged by a troop of F-5 tornadoes, is the decision bad even before such a climatic event? 

 

I believe like Volare that Fort Worth is more livable than most other places, but weather is an equal opportunity doer of calamity.



#108 Doohickie

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Posted 28 August 2017 - 10:05 PM

but weather is an equal opportunity doer of calamity.


No it's not. It varies with geography.
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#109 renamerusk

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Posted 28 August 2017 - 10:45 PM


 

but weather is an equal opportunity doer of calamity.


No it's not. It varies with geography.

 

 

Interesting proposition; you have that argues somehow that North Texas is a zone free climatic catastrophe region.

 

All geography is susceptible to climatic events and  would have its own particular risk.

 

So what calamity do you think is the best scenario?



#110 Doohickie

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Posted 29 August 2017 - 06:45 AM

I didn't say it was immune, just that the risk varies with geography.  Please stop putting words in my mouth.


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#111 Austin55

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Posted 29 August 2017 - 02:22 PM

Swift building is for lease

 

https://www.transwes.../swift-building

 

I understand it was already sold, perhaps new owner is just an investor and not an occupier.



#112 David_H

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Posted 29 August 2017 - 03:31 PM

Acording to the flyer, the building is 36,000 SF but they are only leasing 13,000 of it, which is the first floor. Also the available date is August 2018.

It will be interesting to see what ends up there - it’s a really nice building in a cool location.

#113 Doohickie

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Posted 29 August 2017 - 06:53 PM

How about Fred's Texas Cafe - Stockyards?


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#114 renamerusk

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Posted 29 August 2017 - 07:38 PM

I didn't say it was immune, just that the risk varies with geography.  Please stop putting words in my mouth.

 

I offered a reply to what you were possibly inferring, but I did not put any words in your mouth.

 

Read Post#108

 

I took the responsibility of citing risks such as tornadoes as an example of calamity particular prevalent in North Texas which also acknowledges that as weather is universal, so are risks associated with weather.

 

"risk varies by geography" sounds like a quip which then sounded to me as an argument "that having your home destroyed by a tornado or a wild fire is preferable to having your home destroyed by a hurricane/flood and that the risks can be ranked even when the results are the essentially the same.



#115 johnfwd

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Posted 30 August 2017 - 05:45 AM

 I'm not an expert on site acquisition/corporate relocation decision-making, but I would suspect that weather ranks far below other factors such as taxation, infrastructure, and land availability.  Of course the potential flooding from rainfall was probably a topic of discussion prior to the development of the Woodlands corporate campus, but probably not a deciding factor.

 

What concerns me is what a Nationwide insurance investigator told me the other day.  He said a lot of property owners in the Houston area don't have flood insurance.  Surprised me!



#116 youngalum

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Posted 30 August 2017 - 02:08 PM

Most property owners don't carry flood insurance in most parts of the country.  Come Friday, the ones that do will still get hosed by insurance companies by a new law signed by Abbott.  That new law limits consumers ability to hold insurance companies accountable for bad faith claims practices or slow pay claims.  Used to be able to obtain a verdict that included damages and interest for such claims practices.  Not anymore.  Flood, tornado, hail, wind victims all over the state have been sold out to the insurance lobby that cares nothing about policy holders except the premiums. 



#117 pelligrini

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Posted 30 August 2017 - 05:03 PM

A lot of homeowners don't carry it, especially when it is optional. Most mortgage lenders will require it if your property is drawn up in a flood map.

 

Youngalum, I think flood insurance is not entirely part of that same monster. Isn't it backed through the National Flood Insurance Program? If your carrier is dragging their feet and otherwise, that would probably hold up the NFIP claims though.

 

I wasn't too fond of that new law either. I think it was a really poor solution and/or reaction to some of the supposedly frivolous roofing lawsuits that came up recently. A whole lot of our representatives sure did jump on the insurance companies bandwagon. Too bad the not enough voters will remember come election day. Nothing new...


Erik France


#118 youngalum

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Posted 31 August 2017 - 02:04 PM

Yes, the law will apply to just normal homeowner's insurance policies.  I did have flood insurance thru Allstate one time but dropped it after my house was removed from needing it and it was much cheaper than thru the national program--but I'm almost positive it was backed by it of course.

 

Yes, many will not have the issues to be faced by the new law on flooding b/c of no coverage.  It is the wind damage folks that are going to have issues. 

 

It is throw the baby out with the bath water type of law.



#119 Austin55

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Posted 09 February 2018 - 03:56 PM

Here's an update on the XTO properties thus far.

 

600 Exchange - Swift & Co Office - Sold to Swift Building LLC.

 

901 Commerce - Empty 3/4 block surface parking - sold to Southern Land Co who plan a 32 story apartment tower

 

801 Grove - Montgomery/Tindall Storage building - Sold to FWTA to use as new HQ 

 

800 Calhoun - Binyon-O'Keefe Building - Sold to Finley Resources who will sublease back to XTO through 2020.

 

210 W 6th - Petroleum Building - Sold to Sundance Square along with adjacent 1/4 block surface lot and 1/2 block garage. Unknown if any significant changes are coming. 

 

704 Houston - Cowtown Place Garage - Sold to Woodbranch Managment. 

 

 

W.T. Waggoner and the 3/4 block surface parking, 714 main, Bob Simpson building and the full block of surface parking at 901 Calhoun have not hit the market yet. One of these buildings will be retained by XTO and continued to use as offices, so only 2 buildings and 2 parking lots are left to be sold.



#120 Now in Denton

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Posted 09 February 2018 - 06:34 PM

I find it a bit odd. That XTO still wants a toe hold in Fort Worth ? Given that the parent company Exxon is in Irving. And XTO will move a majority to Woodlands. 



#121 Austin55

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Posted 27 February 2018 - 01:58 PM

W.T. Waggoner hits the market.

http://www.us.jll.co...ec3WP1s.twitter

#122 Jeriat

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Posted 27 February 2018 - 02:39 PM

W.T. Waggoner hits the market.

http://www.us.jll.co...ec3WP1s.twitter


I want to say apartments... I WANT to...

7fwPZnE.png

 

8643298391_d47584a085_b.jpg


#123 John T Roberts

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Posted 27 February 2018 - 03:03 PM

Since the original lobby is intact, I would think that this would make an excellent hotel. 



#124 Austin55

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Posted 27 February 2018 - 03:50 PM

This also includes the most potential filled vacant sites in downtown,

 

 

 

The adjacent surface lot currently accommodates 92 parking spaces, but as one of the few remaining undeveloped lots in the core downtown market, provides a rare opportunity for immediate development.

 

 

Unlikely another property of this size will be on the market in a long, long time. And a perfect spot for something 600'.



#125 John T Roberts

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Posted 27 February 2018 - 04:09 PM

So, are you proposing demolition of the W.T. Waggoner Building, or another "L" shaped tower surrounding it?



#126 Austin55

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Posted 27 February 2018 - 04:12 PM

L!

#127 rriojas71

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Posted 27 February 2018 - 07:31 PM

L!


I wouldn’t mind it as long as it compliments the WT... It is one of my favorite buildings downtown and I would hate to see it’s grandeur overwhelmed by something underwhelming.

#128 Austin55

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Posted 21 March 2018 - 03:43 PM

It seems that Finley Resources, who purchased the Binyon O'keefe building, also purchased the adjacent full block surface parking lot (Block TU). Since they are leasing the building back to XTO for the next two years I suspect we won't see any development there in the near future.



#129 Austin55

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Posted 11 April 2018 - 10:53 AM

XTO has filed renovation permits for the Bob R. Simpson Building. I'd guess that means that 714 Main will be the last building to hit the market and XTO's remaining Downtown employees will star at Bob Simpson. 



#130 Now in Denton

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Posted 16 April 2018 - 10:35 AM

I find it odd that the president of XTO will be a Fort Worth Chamber luncheon ? "Join us as we hear update from Sara Ortwein President XTO Energy"  Maybe we will hear how XTO will sponsor Colonial or Parade of lights ? https://t.co/5VUBmtRKZv 



#131 renamerusk

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Posted 05 June 2018 - 01:07 PM

XTO has filed renovation permits for the Bob R. Simpson Building. I'd guess that means that 714 Main will be the last building to hit the market and XTO's remaining Downtown employees will star at Bob Simpson. 

 

You nailed it!

 

 Another building being marketed for residential and hospitality use.

 

FWBP -  http://www.fortworth...fade9a24cb.html



#132 John T Roberts

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Posted 08 June 2018 - 07:35 AM

There's no real "new" news here, but D Magazine does have a rundown on the status of the XTO Energy Properties for sale in Downtown Fort Worth.  Below is the link:

 

https://www.dmagazin...-worth-offices/



#133 renamerusk

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Posted 08 June 2018 - 11:01 AM

There's no real "new" news here,

 

True. A rather useless attempt to get some "Tarrant County Eyeballs" to read "D" magazine and to portray itself as the metro magazine.  FWBP, FWST, and our own FWF are providing an abundance of useful insight regarding the status of the former XTO properties.

 

If d-magazine wants to helicopter over here every now or then, it would helpful if it correctly spells Fort Worth.



#134 Doohickie

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Posted 08 June 2018 - 11:28 AM

If d-magazine wants to helicopter over here every now or then, it would helpful if it correctly spells Fort Worth.


I used to make that mistake all the time. :D


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#135 John T Roberts

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Posted 21 June 2018 - 05:25 PM

Brian Luenser has caught the beginning of the exodus for XTO over on his Facebook page.  The pictures were taken today.



#136 johnfwd

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Posted 22 June 2018 - 07:32 AM

Too bad they are leaving.  XTO was a community sponsor of the Main Street Arts Festival.  I still wear the volunteer T-shirt for that particular year (a red one!)



#137 JBB

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Posted 22 June 2018 - 08:12 AM

I thought Brian caught the middle of their moving.  I saw some pics of trucks lined up outside of one their buildings on Twitter last week.



#138 Austin55

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Posted 07 August 2018 - 11:44 AM

W.T. Waggonner has a new owner - Tom Gaglardi. If that name sounds interesting, Gaglardi is also the owner of the Dallas Stars. Implication sounds heavy that this will go hotel.

 

https://www.dallasne...orth-skyscraper

 

 

Thread on the buildingn on FWAF



#139 Jeriat

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Posted 07 August 2018 - 11:52 AM

W.T. Waggonner has a new owner - Tom Gaglardi. If that name sounds interesting, Gaglardi is also the owner of the Dallas Stars. Implication sounds heavy that this will go hotel.

 

https://www.dallasne...orth-skyscraper

 

$50 we get a Moxies in Downtown Fort Worth?

 

This?

Moxies-Houston-exterior_114843.jpg


7fwPZnE.png

 

8643298391_d47584a085_b.jpg


#140 ramjet

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Posted 07 August 2018 - 11:54 AM

W.T. Waggonner has a new owner - Tom Gaglardi. If that name sounds interesting, Gaglardi is also the owner of the Dallas Stars. Implication sounds heavy that this will go hotel.

 

https://www.dallasne...orth-skyscraper

 

 

Thread on the buildingn on FWAF

 

Wow.  Seems like that happened very fast.  Here's more info on Mr. Gaglardi's company:

https://en.wikipedia...land_Properties



#141 Austin55

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Posted 07 August 2018 - 11:57 AM

 

W.T. Waggonner has a new owner - Tom Gaglardi. If that name sounds interesting, Gaglardi is also the owner of the Dallas Stars. Implication sounds heavy that this will go hotel.

 

https://www.dallasne...orth-skyscraper

 

$50 we get a Moxies in Downtown Fort Worth?

 

This?

 

Yeh, there's on at The Crescent in uptown Dallas. It's a great place to catch a Stars game!



#142 Austin55

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Posted 15 March 2021 - 09:24 AM

I can't see the article due to paywall, but it sounds like XTO is parting ways with the Bob. Simpson building now too.

 

https://www.bizjourn...fort-worth.html



#143 Nitixope

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Posted 15 March 2021 - 09:58 AM

I can't see the article due to paywall, but it sounds like XTO is parting ways with the Bob. Simpson building now too.

 

https://www.bizjourn...fort-worth.html

 

JLL is leading marketing and sales efforts for the property but nothing listed on their website yet:

https://www.us.jll.c...th&asset=Office

 

(By the way, I right-clicked and opened the article in "Incognito Mode" .....maybe I'm not supposed to say that out loud?)



#144 Austin55

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Posted 16 March 2021 - 04:03 PM

Here's a (free) FWBP article. https://fortworthbusiness.com/business/jll-has-announced-the-listing-of-a-property-available-for-sale/ 

The Simpson Building is probably the most challenging of XTO's former stock to convert to office or hotel due to the larger floorplates, I actually think this one makes sense in it's current use as office. I guess that will depend on whether or not any tenants want to be in it.  



#145 John T Roberts

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Posted 16 March 2021 - 10:01 PM

I'm betting it will remain as office space because of its larger floor plates.  The building was added onto twice in its history.  Once, to double the Houston Street facade, leaving the tower portion "L" shaped, and then filling in the "L", making it almost square in plan.  (100' x 95')



#146 Austin55

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Posted 16 June 2023 - 01:29 PM

Today marks six years since the announcement. I wrote a little post talking about the change in that span. 

 

https://www.nowtown....six-years-later



#147 John T Roberts

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Posted 16 June 2023 - 01:42 PM

Your post was very well done. Thanks for the links back to this site.



#148 Big Frog II

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Posted 17 June 2023 - 04:11 PM

What a blow to our downtown to lose XTO and Union Pacific Resources.  That was a lot of office workers.







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