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| Fountain Place, Dallas, TX |
DALLAS, TX – HFF announced it has closed the sale of Fountain
Place, a 1.2 million-square-foot, Class A office tower in Dallas,
Texas.
HFF marketed the property on behalf of
the seller, J.P. Morgan Asset Management, acting on behalf of institutional
investors it advises. Goddard
Investment Group purchased the asset for an undisclosed amount free and clear
of existing debt.
Fountain Place is located at 1445
Ross Avenue close to Klyde Warren Park and the Dallas Arts District. The 58-story tower was designed by architect
I.M. Pei and features a dancing water garden called “The Fountain Plaza” at its
base.
It is one of only three LEED Gold
Certified Class A buildings in downtown Dallas and also includes an adjacent
1.5-acre development site that can be developed into above grade parking.
Fountain Place is 88 percent leased to tenants
including the Tenet Healthcare, Hunton & Williams and Wells Fargo Bank,
N.A.
According to HFF, Fountain Place is one of the most iconic
buildings in the southwestern United States and the most recognizable building
on the Dallas skyline.
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| Dallas, TX skyline |
J.P. Morgan Asset Management is a global asset management
leader providing world-class investment solutions to clients.
With $1.6
trillion in assets under management (as of March 31, 2014) and offices in 35 countries around the
world, J.P. Morgan Asset Management offers global coverage with a strong local
market presence, and leadership positions in most asset classes.
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:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
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