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Frost Tower - Jetta Operating to Build Downtown Office Building

Downtown Office New Construction Bennett Benner Partnership Frost Tower 640 Taylor

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#651 Jeriat

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Posted 08 July 2020 - 02:04 PM

It will now become the lead tenant in 640 Taylor Street. If 300K of a 318K building is leased by this corporation, then shouldn't it be known as HTNB? 

 

Now, if 300-700k was in the pipeline, it would be scooped up too.   Looks promising for Pier One Tower will to be next to announce a major lease deal.

 

The guys who just finished the Las Vegas Raiders (still trying to get used to saying that) new digs... I'm in FULL support.  

But I would still call it Frost Tower.

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#652 John T Roberts

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Posted 08 July 2020 - 02:11 PM

For some reason, it looks like the numbers don't add up.  If they really leased up 300,000 square feet, then all of the existing tenants would have to vacate the building, including Frost's offices.  I seriously doubt that Jetta and Anthracite would give up their own office space for this tenant (3 floors).  Also, these numbers would allow Frost to maintain the bank on the ground floor, but they would have to leave the 3 floors they leased up in the tower.  I also added up all of the floor plates above the garage, and my numbers indicate that the 300,000 would take up everything in the tower, minus a few square feet.  Branch & Bird occupies part of the 12th floor along with the Conference Center on the other part of 12 and Amenity Center on 13. 



#653 Austin55

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Posted 08 July 2020 - 02:17 PM

I wondered about that too - Stream hasn't put out a press release that I can find.



#654 Dylan

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Posted 08 July 2020 - 02:18 PM

 

Leasing in this building is bad and several developers are watching if these spaces get leased with keen interest.  If the market doesn't improve, some plans will be nixed on any potential new Fort Worth office tower(s).

 

Define bad.

The building is still in the lease up stage after delivering not even two years ago. It's sitting at 71% occupancy with only three full floor availabilities remaining (22,936 SF floor plates) and 1 partial floor (13,515 SF) remaining.

Having a large-block of vacant available shell space in a Class A building like this is what keeps downtown Fort Worth as an option for any corporate HQ relocation/expansion.

 

 

Exciting news - big chunk of space has been leased up.

 

https://fortworthbus...hs-frost-tower/

 

Wait a minute... something isn't right here.

 

The article says Frost Tower is only 314,000 square feet. But, in the headline, it says HNTB will be taking up over 300,000 square feet... which is almost the entire tower.

 

We know Frost Tower isn't almost completely vacant. So, either FWBP is wrong (perhaps they meant 30,000 square feet?), or the building's current tenants are going to have to relocate.

 

 

 

EDIT: Y'all beat me to questioning the numbers.


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#655 renamerusk

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Posted 08 July 2020 - 03:13 PM

 

 

Leasing in this building is bad and several developers are watching if these spaces get leased with keen interest.  If the market doesn't improve, some plans will be nixed on any potential new Fort Worth office tower(s).

 

Define bad.

The building is still in the lease up stage after delivering not even two years ago. It's sitting at 71% occupancy with only three full floor availabilities remaining (22,936 SF floor plates) and 1 partial floor (13,515 SF) remaining.

Having a large-block of vacant available shell space in a Class A building like this is what keeps downtown Fort Worth as an option for any corporate HQ relocation/expansion.

 

 

Wait a minute... something isn't right here.

 

That is not the only thing that peaked my interest as being odd: Downtown Fort Worth is a sub market. 

 

"The building is located in the Fort Worth CBD submarket, known for its historical landmarks and entertainment".

 

Are all of the commercial office markets in the region labeled as a sub market so that the total regional market is The Market? 



#656 Dylan

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Posted 08 July 2020 - 08:34 PM

Yes. Real estate companies typically divide large metro areas into numerous sub-markets. Downtowns are generally considered to be their own sub-market.

 

In DFW, depending on the company, you'll have sub-markets like: "Fort Worth CBD," "Southwest Fort Worth," "North Fort Worth," "Mid-Cities," "Dallas CBD," "North Dallas," "Las Colinas," "Legacy," etc.


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#657 renamerusk

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Posted 09 July 2020 - 08:26 AM

Yes. Real estate companies typically divide large metro areas into numerous sub-markets. Downtowns are generally considered to be their own sub-market.

 

In DFW, depending on the company, you'll have sub-markets like: "Fort Worth CBD," "Southwest Fort Worth," "North Fort Worth," "Mid-Cities," "Dallas CBD," "North Dallas," "Las Colinas," "Legacy," etc.

I always note details when reading informational material.

 

The designation of "Downtown Fort Worth" as a sub market" seemed to carry the implication that it was considered to be a second tier market.  If each market within the regions is designated as so, then it less worrisome to me.

 

Thanks for the clarification. 



#658 txbornviking

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Posted 09 July 2020 - 10:45 AM

perhaps it was a typo? 300,000 where 30,000 was intended?



#659 JBB

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Posted 09 July 2020 - 11:07 AM

That makes more sense given the posts about space available in the building from earlier in the year.  The numbers match up pretty close.



#660 FTWIK

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Posted 09 July 2020 - 11:56 AM

The deal was for less than a full floor. FWBP had it wrong. 



#661 John T Roberts

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Posted 09 July 2020 - 11:59 AM

Thanks for clarifying.  I knew the number couldn't be right. 



#662 JBB

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Posted 09 July 2020 - 01:41 PM

This is the part where someone cues up the Price is Right fail horn.



#663 Doohickie

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Posted 09 July 2020 - 09:00 PM

Maybe they need the office space for when they take over the Trinity River Vision project.  


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#664 Jeriat

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Posted 09 July 2020 - 09:07 PM

Maybe they need the office space for when they take over the Trinity River Vision project.  

 

I hope that really DOES happen, because I'm sick and tired of the Grangers "handling" this...


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#665 renamerusk

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Posted 09 July 2020 - 11:14 PM

Maybe they need the office space for when they take over the Trinity River Vision project.  

If you changed the font, you would actually be preaching to the choir more than you think -

 

HNTB Corporation, an employee owned infrastructure solutions firm serving public and private owners and construction contractors....

 

This is really the kind of company that TRV could really use.



#666 Austin55

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Posted 20 May 2021 - 11:17 AM

Another 5k sqft chipped away. Nearly 80% occupied according to the article. 

https://fortworthbus...own-fort-worth/



#667 John T Roberts

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Posted 24 August 2022 - 09:00 PM

Frost Tower and First Christian Church at night.  I was sorry that the lights inside the church's dome were not illuminated.

 

52309699965_382fd57419_k.jpgfrost-1stchristian by jtrobert, on Flickr



#668 rriojas71

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Posted 24 August 2022 - 09:04 PM

Funny, I was up at Bird and Branch tonight.  My first time here in about 4 years and I really enjoyed it.  The food was good.  1/2 priced wine and music and the weather on the patio was amazing.



#669 Austin55

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Posted 24 August 2022 - 09:11 PM

Wide! Nice shot, John.

Branch and Bird is great. Even if the food and drinks were mediocre, the location is worth it. 



#670 John T Roberts

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Posted 24 August 2022 - 09:24 PM

I have been up there, as well.  I will agree the view makes it worth going.



#671 Big Frog II

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Posted 25 August 2022 - 09:08 AM

I love First Christian Church.  What a neat building.



#672 Nitixope

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Posted 10 September 2022 - 08:06 PM

I guess they aren't doing the Topping Out Awards anymore?  I think COVID did it in, 2019 was the last year they celebrated this.

https://www.toppingout.org/2019winners



#673 John T Roberts

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Posted 06 December 2022 - 04:01 PM

Branch & Bird is remodeling into a dinner restaurant and bar, Bud Kennedy with the Fort Worth Star-Telegram reports.  If you have access to the Star-Telegram, you can read the story here:  https://www.star-tel...e269481057.html



#674 Nitixope

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Posted 06 December 2022 - 06:14 PM

Branch & Bird is remodeling into a dinner restaurant and bar, Bud Kennedy with the Fort Worth Star-Telegram reports.  If you have access to the Star-Telegram, you can read the story here:  https://www.star-tel...e269481057.html


I be saw this article earlier and really like the vintage architectural rendering:

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#675 Nitixope

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Posted 10 December 2022 - 05:43 PM

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#676 Nitixope

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Posted 15 January 2023 - 08:01 PM

I noticed this on Saturday, the windows on the Frost Tower appear to have some sort of corrosion running down them from the curtain wall material?

 

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