Fort Worth Club to sell parking lot for new office building
05/05/2014 4:53 PM
05/05/2014 4:54 PM
The owner of a privately held oil and gas company plans to build offices on the site of a Fort Worth Club parking lot once owned by the Star-Telegram.
The Fort Worth Club has agreed to sell its surface parking property to Anthracite Realty Partners, a development company operated by the owner of Jetta Operating. The parking lot, which borders one of the former Star-Telegram buildings, covers three-quarters of a block bounded by Taylor and Lamar streets on the east and west, and Sixth and Fifth streets on the north and south.
The developer plans a multiuse building with retail space, office space and a parking garage pending a due-diligence review, the Fort Worth Club said Monday.
Anthracite and Jetta are both headed by Greg Bird, who founded Jetta in 1991. Jetta was ranked No. 41 in October among U.S. privately held oil and gas producers, according to Oil & Gas Financial Journal.
“Fort Worth has always been Jetta’s home, and we are delighted about the potential of this new downtown Fort Worth development,” Bird said in a release issued by the Fort Worth Club. He could not be reached for further comment.
The energy producer has had its offices in the Fort Worth Club Building since 1991.
Last year, Jetta reported statewide production of more than 2.4 million barrels of crude oil and condensate, and nearly 6 billion cubic feet of natural gas, according to Texas Railroad Commission data. Its operations are focused on West Texas and the Gulf Coast. Jetta also has production in eastern Kentucky and in Oklahoma, according to its website.
The Fort Worth Club bought the property from the Star-Telegram in 2008. It demolished the former Tarrant Savings building, known as the Star-Telegram Annex, which occupied one corner, and has used the lot for parking. Bob Simpson, a co-founder of XTO Energy and co-owner of the Texas Rangers baseball franchise, bought the former Star-Telegram building in 2011 and is renovating it for use by his new company, MorningStar Partners.
The Fort Worth Club would have access to the parking garage for use by its members, guests and tenants, it said.
The sale is expected to close by the end of June pending the review. Terms were not disclosed. Bennett Benner Partners, a Fort Worth architectural firm, will handle the review and initial planning.
Tim Carter, president of the Fort Worth Club, said in a statement that the club “is excited about this opportunity to be able to provide our members, tenants and guests with access to additional secure and convenient covered parking.”
The club already owns a 300-space parking garage attached to its building at 306 W. Seventh St.
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