1407 Texas St. is a three-story class-A office property located near downtown Fort Worth.
FORT WORTH—1407 Texas St. will be vacated in this quarter by its current tenant, Simpli.fi, which will immediately position the property for perspective owners and tenants. Marketing efforts will then be relaunched on the three-story class-A office property near downtown, according to JLL.
"1407 Texas St. has been an important part of our history and culture since we started in 2010," said Frost Prioleau, Simpli.fi CEO. "The building has served as our first and only corporate home, and has helped us create a great culture and work environment. As we transition to our new headquarters at the Fort Worth Stockyards, we hope that 1407 Texas St. will play an equally if not more important role for the next company who makes it their own."
JLL managing director Ryan Matthews and senior vice president Matt Montague will lead the marketing and sales efforts for the property which is located at the corner of Summit Avenue and Texas Street in Fort Worth's Central Business District.
"We have seen growing interest and adoption of creative office space in Fort Worth and major markets across the US particularly by tech and local entrepreneur-led companies as a means to attract and retain top talent, and to help curate a more dynamic culture," said Montague. "With a timeline now set for Simpli.fi's relocation, we anticipate elevated interest in 1407 Texas St., especially as we consider the leasing potential in addition to its potential sale."
Matthews concurs with the elevated interest in the space, saying it will not remain vacant for any length of time.
"There are very few office buildings for sale in the Fort Worth CBD that provide an owner occupier 25,000 square feet under one roof that's move-in ready," Matthews tells GlobeSt.com. "The floorplan is an open office concept with exposed ceilings and a ton of natural light. With the Simpli.fi move date set in stone, we don't expect the space to stay on the market long."
This year will mark the 10th year of growth in the real estate cycle, according to a JLL office report. Measured growth continues to be the story–in terms of speculative groundbreakings and rent growth which is taking a breather after several years of significant jumps. DFW's diverse industry, strong migration and job growth continue to bode well for the region's office market, says JLL.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
