FORT WORTH -- Oil and gas mogul Bob Simpson, the former top executive at XTO Energy who has acquired and renovated several downtown office buildings over the years, has bought the landmark Fort Worth Public Market Building and some adjacent properties on Henderson Street, at the southwest edge of downtown.
Simpson and his wife, Janice, bought the property through his Morning Star Capital company from Bowen Properties, which is owned by the heirs of R.C. Bowen, who operated one of Fort Worth's first bus companies. Bowen bought the property in 1944.The Simpsons are considering returning the 82-year-old property to its original use as a public market where residents can buy fresh local produce."I've always loved that building," Simpson said. "It's definitely one of downtown's treasures. The city deserves to have it restored and kept and we'd love to do it."Work on the property won't begin for many months, he said, probably not until Morning Star finishes restoring the former Star-Telegram building at Seventh and Taylor streets downtown, where he will have his offices. Morning Star is scheduled to move into the second floor of that building in November, but work will continue on the first and third floors, Simpson said.The Public Market purchase also included the one-story building just to the west, where Pantagleize Theatre is located, and the two-story office building on the west side of Lake Street. Bowen Properties has its offices in the two-story building, at 1201 West Freeway.Edmund Frost, trustee of Bowen Properties and the grandson of R.C. Bowen, said he and Simpson recently closed on the deal."We're really pleased that Bob Simpson and Morning Star bought it," Frost said. "They'll do a good job of looking after it."The Public Market Building at 1400 Henderson St. was built in 1930. It has been vacant since 2004.The property was listed as a Texas historic landmark in 1980 and four years later placed on the National Register of Historic Places. In 2008, Historic Fort Worth placed it on its most-endangered properties list.Bowen Properties attempted to redevelop the property, but put it up for sale a few months ago.In September 2010, fire destroyed the L-shaped shed behind the main building that decades ago housed farmers' stalls. At its peak, the Public Market had space for 145 farmer or vendor stalls and 30 permanent retail shops. Farmers pulled their trucks into the shed and displayed their produce on tables.Simpson is one of the primary owners of the Texas Rangers baseball club. In 2010, Simpson oversaw the sale of XTO Energy to Exxon Mobil for $35 billion.As Chairman and CEO of XTO Energy, Simpson led historic renovations of several downtown buildings including the old W.T. Waggoner Building, where the oil and gas company had its headquarters; the former Baker Building, which was renamed the Bob R. Simpson Building in 2005; and the former Transport Life Building. The renovation projects have been noteworthy for their extensive attention to detail, both inside and out.Matt Carthey and Geoff Shelton with Holt Lunsford Commercial represented Bowen Properties. Keith Webster with KWR Consulting represented the buyer.Sandra Baker, 817-390-7727Twitter: @SandraBakerFWST