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XTO Energy Sells Petroleum Building Prior to Houston Move

ExxonMobil Subsidiary to Remain in Downtown Ft. Worth Tower Until Summer
January 30, 2018
XTO Energy has completed its latest sale in Fort Worth as the company readies for its relocation to Houston this summer.

Sundance Square Management, a local firm and the developer behind the city's Sundance Square entertainment district, paid an undisclosed amount to XTO for The Petroleum Building, a 93,824-square-foot, 14-story office property that occupies a full city block at 210 W. 6th St. in downtown Fort Worth. The sale also included the 534-parking garage adjacent to the building.

XTO will continue to fully occupy the building through the spring at which point the company will relocate roughly 1,600 employees - the bulk of its Fort Worth operations - to ExxonMobil's 385-acre Springwoods Village campus.

Irving, TX-based Exxon Mobil Corp. (NYSE: XOM) acquired the oil and gas producer in a $41 billion deal back in 2010. At the time, XTO was the largest domestic natural gas producer in the country.

The company is in the process of selling six of the seven buildings it owns in Fort Worth, and with its most recent deal has now sold four properties totaling 281,204 square feet.

Ryan Matthews and John French of JLL represented XTO Energy.

Please refer to CoStar COMP #4120246 for more information on this transaction.
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