Join The Discussion

 

UPDATE: Could American Airlines move its headquarters?

A key linchpin in the Fort Worth economy, American Airlines Group Inc., is considering sites for a new headquarters, possibly outside the city, the airline’s CEO said this morning.

read more >

Crestwood area hoping to block planned office building

Residents of West Fort Worth’s Crestwood Association are trying to block the rezoning of a small apartment complex at White Settlement Road and North Bailey Avenue to make way for a planned office building, saying it would represent the start of commercial encroachment into their neighborhood.

read more >

Tiger Woods takes a swing at Fort Worth's Dan Jenkins - in print anyway

Rarely does Golf Digest make the news. Leave it to Dan Jenkins to change that.

read more >

Hilton Fort Worth named to Historic Hotels

The Hilton Fort Worth is one of 24 hotels named a member of the Historic Hotels of America, the Washington, D.C.-based group announced on Nov. 18.

read more >

Great Women of Texas honored

The Fort Worth Business Press held the Great Women of Texas event Wednesday night at the Omni Fort Worth Hotel. Stacie McDavid of McDavid Investments was honored as the

read more >

Sinclair Building sold

Interior of Sinclair Building. Photo by A. Lee Graham

Sinclair Building. Photo by Alyson Peyton Perkins

A. Lee Graham
Reporter

One of downtown Fort Worth’s most visually striking buildings has sold, with the Sinclair Building now owned by a group of local investors.

“I’m not at liberty to say who they are,” said Nicholas Pappas, a Fort Worth attorney who represented Sinclair Holdings LLC, the investors’ group, in the transaction.

Selling the property was The Sinclair Building Partners LP, an investment group headed by Ken Jaffe, Allyson Baumeister and Rick Baumeister that purchased the building in September 2006.

The purchase price for the latest transaction was not disclosed, but the 512 Main St. property is valued at $5.8 million, according to the Tarrant Appraisal District.

The deal closed on Friday Dec. 13 with a deed expected to be filed in coming weeks, Pappas said.

The 16-story structure, on the northwest corner of Main and Fifth streets, was built in 1930 and reflects the Art Deco architecture of the time. Designed by Wiley G. Clarkson and built by Harry B. Friedman, it underwent a 1990 restoration that transformed the lobby into a virtual museum, with display cases containing salvaged artifacts, as well as photographs taken before and after the restoration.

Original plans to name the building the Dulaney Building, after its then-owner, changed to reflect Sinclair Oil Co., its main tenant.

lgraham@bizpress.net

 

< back

Email   email
hide
Midterms
What was the message of the midterm elections?