 |
| Fountain Place |
DALLAS, TX —
Atlanta-based Goddard Investment Group, LLC, has acquired Fountain Place,
the iconic, 58-story office tower located near the Arts District in Dallas.
The 1.2 million-square-foot, LEED Gold-certified building is
currently 88 percent occupied. The acquisition was completed through the
Goddard Value-Add Office Fund I, LP.
“Fountain Place is
one of the most recognizable buildings in the Dallas skyline. Our vision for
the property is to expand and refresh the public areas, making them consistent
with the striking design of the tower’s exterior facade,” said Robert C.
Goddard III, chairman and CEO of Goddard Investment Group.
"With our investment, this will be a truly
irreplaceable building that offers all the amenities, accessibility and
prestige expected from a top-tier Uptown or Arts District building.”
Goddard plans to
execute a substantial renovation and repositioning program to re-establish the
building as a contemporary, Class-AA asset. Specific property improvements
include refurbishing the lobby and elevator banks, and enhancing the exterior
fountains and landscaping.
In addition, Goddard has plans to build a new parking garage
adjacent to the building to accommodate a parking ratio substantially above
market average.
 |
| Robert C. Goddard III |
Fountain Place was
built in 1986 and designed by I.M. Pei. Cassidy Turley has been retained
to oversee leasing at the property.
Goddard Investment
Group was founded in 2000 and is headquartered in Atlanta, with a regional
office in Dallas.
The company has acquired and managed approximately 12 million
square feet of commercial property, and currently has investments in Atlanta,
Dallas, Houston, Miami and Tampa.
Goddard Value-Add Office Fund I, L.P. is a
discretionary, commingled, institutional fund sponsored by Goddard Investment
Group.
For a complete copy of the company’s news release, please
contact:
Ellen Marsau
Jackson Spalding
(214) 646-1657
No comments:
Post a Comment