Sundance Square on Thursday announced it will begin marketing the Petroleum Building, a 14-story building situated on a full city block at W. Sixth Street between Houston & Throckmorton streets with approximately 117,000 square feet. Sundance Square purchased the Petroleum Building in January from XTO Energy for an undisclosed price.
Built in 1927, the building was restored in 2004 by XTO Energy and has been well maintained. Designed by Wyatt C. Hedrick for businessman Richard Dulaney, the building features Art Deco elements and has gone through several alterations over its 90-year history. XTO Energy has been shedding itself of its Fort Worth real estate portfolio since the energy company announced it was moving most Fort Worth jobs to the Houston area.
“The market is strong in downtown Fort Worth and we believe now that the Petroleum Building is part of Sundance Square’s portfolio, the demand for this property will be high,” said Johnny Campbell, CEO of Sundance Square. “We will continue to create a vibrant Central Business District that emanates throughout downtown. The Petroleum Building will maintain its position as a notable property.”
Robert Gamblin, Sundance Square’s director of leasing, will handle the leases for the 35-block development in downtown Fort Worth.