Thursday, June 26, 2014

Goddard Investment Group Acquires Fountain Place in Dallas, TX



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


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