DALLAS--(BUSINESS WIRE)--April 1, 2008--Crosstex Energy, L.P.
(NASDAQ: XTEX) (the Partnership) and Crosstex Energy, Inc. (NASDAQ:
XTXI) today announced they will move their headquarters to the
International Center IV building, a Harwood International property
located at 2828 Harwood in uptown Dallas. Crosstex will occupy five
floors and more than 114,000 square feet of the building. The new
location will accommodate more than 400 employees.
"We have outgrown our office facilities because we have
successfully executed our business strategy," said Barry E. Davis,
Crosstex President and Chief Executive Officer. "We are moving to a
larger building to accommodate our needs as we continue to develop our
business. Much of our growth will be fueled by the increasing activity
in the Barnett Shale natural gas formation in North Texas, the hottest
gas play in the United States today."
Davis and eight others founded Crosstex 12 years ago. Today, the
company employs more than 700 people and is currently located at 2501
Cedar Springs in Dallas. Crosstex plans to move into the new facility
in the fall of 2008.
The Staubach Company's Steve Thelen, Executive Vice President, and
Jeff Staubach, Vice President, advised Crosstex and helped negotiate
the terms of the lease. "The International IV Building is a great
uptown location and will allow Crosstex to continue to grow and add
new employees in the foreseeable future," said Thelen.
About The Staubach Company
The Staubach Company is the leading global real estate advisory
firm that delivers cost-effective solutions for the users of office,
industrial and retail space. Staubach has extensive experience in
strategic consulting, site selection, acquisition, disposition,
construction consulting/project management, real estate
administration, portfolio management, financing and capital solutions.
The company continually expands its service offerings and geographic
coverage to meet the evolving needs of its clients.
The Staubach Company has 1,200 people in 57 offices throughout the
Americas and over 2,200 clients. The company completed over 5,000
transactions for more than 151 million square feet at a value of
almost $18 billion in its most recent fiscal year. The DTZ Staubach
Tie Leung partnership has over 7,900 professionals worldwide who
deliver services and solutions to multinational clients in more than
46 countries. For more information: www.staubach.com / 1-800-944-0012.
About the Crosstex Energy Companies
Crosstex Energy, L.P., a midstream natural gas company
headquartered in Dallas, operates over 5,000 miles of pipeline, 12
processing plants, four fractionators and approximately 190 natural
gas amine-treating plants and dew-point control plants. Crosstex
currently provides services for over 3.5 billion cubic feet per day of
natural gas, or approximately seven percent of marketed U.S. daily
Crosstex Energy, Inc. owns the two percent general partner
interest, a 38 percent limited partner interest, and the incentive
distribution rights of Crosstex Energy, L.P.
Additional information about the Crosstex companies can be found
CONTACT: Crosstex Energy
Crystal C. Bell, 214-721-9407
Investor Relations Specialist
Jill McMillan, 214-721-9271
Manager, Public & Industry Affairs
SOURCE: Crosstex Energy