Lockton Cos., a leading global independent insurance brokerage, has signed a 5,000-square-foot lease in the Frost Tower Fort Worth downtown, moving from the 777 Main tower nearby.
“As the 13th largest city in the U.S., Fort Worth holds so much potential for Lockton,” Michael Moore, president of Lockton’s Fort Worth office, said in a release distributed by Stream Realty Partners, which represents the tower's owner, Anthracite Realty Partners. “This new space presents us with the opportunity to continue expanding our team and tapping into our city’s thriving local market of potential clients.”
Frost Tower debuted in 2018. The 25-story tower has a total 274,000 square feet of office space, 6,000 square feet of retail space, and 920 parking spaces. The building is 80%-leased, Stream said.
Lockton has more than 8,000 employees and 60,000 clients worldwide, in risk management, employee benefits, and retirement services. Lockton has Texas offices in Dallas and Houston.
“The Fort Worth market has not been heavily impacted by an influx of sublease space hitting the market, unlike other cities across the country,” Stream said in the release. “Only 1.7 % of Fort Worth’s total office inventory and 1.6 % of Downtown Fort Worth’s office inventory is currently being marketed as available for sublease, while other major markets across the U.S. are seeing sublease totals anywhere from 12 to 34 %.”
“Sublease space is always a good indicator of a market’s health and, juxtaposed with the flight-to-quality trend, the latest technology and prime location, Frost Tower Fort Worth delivered at the perfect time to provide those business-savvy tenants exactly what they are looking for in their modern work environment,” Cullen Donohue, senior associate with Stream’s Fort Worth office, said in the release.
Dononue; Seth Koschak, managing director; and Chris Doggett, executive vice president, with Stream represented the landlord. Matt Carthey, partner at Holt Lunsford Commercial, represented Lockton.