777 Main In Fort Worth Snaps Up 19K SF Office For UMB Bank
Though Fort Worth tower 777 Main will be losing financial services tenant Frost Bank when it moves into its new namesake tower, 777 Main has inked a deal with another bank. UMB Bank will move into 12K SF on the fifth floor and 7K SF in the lobby at 777 Main in 2018.
“Word wasn’t even on the street yet that this space would be available,” Cushman & Wakefield Senior Director Mike Gosslee said. “We were the first out of the chute so we didn’t have a rush of competition for the space. The space never got on the market for any significant period of time.”
Gosslee and Cushman & Wakefield’s Jay Holland represented UMB in the 10-year lease. Transwestern’s Whit Kelly represented the landlord, the Brookdale Group.
UMB’s 777 Main location will offer commercial and private banking, investment and wealth management and consumer banking services. Pending regulatory approval, it will open in 2018. UMB will put exterior signage on the building.
Cliff Keiser, UMB Bank’s Fort Worth operations and commercial banking president, credits the company’s regional growth as reason for the deal.
“As we continue to build relationships in the corporate sector and expand our services, it seems only fitting that we showcase our commitment to Fort Worth with a long-term lease at one of the city’s most iconic buildings,” Keiser said in a statement.
UMB Bank also has a presence in Dallas’ KPMG Plaza at Hall Arts and some subleased space in Plano. Its 19K SF in 777 Main will be its largest footprint in DFW.
Since its emergence into the Fort Worth market in 2013, UMB Bank has acquired Marquette Financial Cos. and Meridian Bank Texas, and created investment and private wealth management teams.
“UMB Bank recognizes the current and anticipated growth of where Dallas and Fort Worth are headed,” Gosslee said. “This is a major move for Fort Worth.”
Though the new Frost Tower and to-be-vacated XTO Energy buildings could put a lot of new supply into the Fort Worth office market, many brokers have been optimistic that the oversupply would help lure big users.
CORRECTION, AUG. 10, 5:58 P.M. ET: A previous version of this story incorrectly referred to UMB Bank’s office as a regional headquarters. The story has been updated.