CRESCENT SIGNS CLOSE TO 100,000 SQUARE FEET AT 777 MAIN
Fort Worth, TX (April 11, 2012) – Crescent Real Estate Holdings LLC announced today that Frac Tech (FTS International Services, LLC), Stephens, Inc., and EnerVest Ltd. have signed long-term leases for 97,300 square feet at 777 Main, Crescent's corporate headquarters' property in downtown Fort Worth. Frac Tech renewed an existing 67,857 square feet and took an additional full floor of 25,143 square feet, while Stephens, Inc. and EnerVest signed new leases for 2,342 and 1,958 square feet, respectively. 777 Main currently stands at 97 percent leased, a third of which is occupied by oil and gas production and service companies.
FTS International Services, LLC, one of the largest oil well stimulation companies in the U.S. based in Cisco, Texas, entered the Fort Worth market back in 2010 and established 777 Main as its home. Since then, the now public company has grown to become the second largest customer in the property with a total footprint of 93,000 square feet, or 10 percent of the property. Whit Kelly, senior vice president of Jones Lang LaSalle, represented the owner, MS Crescent One SVP, LLC, and John Grace with CASE Commercial represented FTS International Services, LLC.
Whit Kelly commented, “Frac Tech is a dynamic industry leader in oil field servicing, so it comes as no surprise that they are growing their presence in Fort Worth. They are a valued customer of Crescent, and we have enjoyed working with them to support their expanding office needs.”
Stephens, Inc., an 80-year old, privately-held and independent financial services firm based in Little Rock, Arkansas, signed with Crescent to take 2,342 square feet in 777 Main this month. The company operates in 24 locations across the U.S., including The Crescent® in Dallas that Crescent manages and Greenway Plaza in Houston that Crescent owns and manages. Stephens also has a London address. For the 777 Main transaction, Whit Kelly represented the owner, and Chris Haller with Coldwell Banker Commercial represented Stephens, Inc.
EnerVest, Ltd., one of the nation's top 25 largest independent oil and gas companies, opened its third U.S. office in Fort Worth at 777 Main in March. The company occupies 1,958 square feet. Other offices are located in Houston and Charleston, West Virginia. The 20-year old company was founded in 1992 as an investor-focused buyer and manager of North American oil and gas properties and is successfully holding true to that vision today. Whit Kelly represented the owner, and Matt Montague with Jones Lang LaSalle represented EnerVest, Ltd.
777 Main is a 40-story, class A office property located in the southeast quadrant of Fort Worth CBD. The 954,895-square-foot, green glass-paneled icon was developed in 1982 and is home to a prestigious customer base including Jacobs Engineering Group, Inc., Frac Tech (FTS International Services, LLC), and many law firms and energy companies. 777 Main is also home to Crescent Real Estate's corporate headquarters.
Crescent Real Estate Holdings LLC, headquartered in Fort Worth, Texas, is a fully-integrated real estate company owned by Barclays Capital and Goff Capital. Through its subsidiaries, Crescent owns or manages a portfolio of 26 premier office buildings totaling over 9.5 million square feet located in select markets across the United States with major concentrations in Fort Worth, Dallas, Houston, Denver and Las Vegas. Crescent also holds investments in resort residential developments in locations such as Scottsdale, Vail Valley, and Lake Tahoe; luxury hotels; and the wellness lifestyle leader, Canyon Ranch®. For more information, visit Crescent's Web site at www.crescent.com.