Chesapeake Energy's Fort Worth building may be sold August 5, 2014
Chesapeake Energy’s high-profile 20-story office tower on the west side of downtown Fort Worth appears to have found a buyer, according to local real estate industry rumors.
Local sources say the building is being purchased by Houston-based Hines, a privately owned real estate firm involved in real estate investment, development and property management worldwide. While there were no real estate transactions recorded on the building, several local real estate officials indicated Hines was the buyer. Officials at Oklahoma City-based Chesapeake said they had no comment on a possible sale and Hines spokesman Mark Clegg said the company would not comment on “anything that’s not closed and not our property.”
Rumors began to hit the streets last week when crews removed Chesapeake’s name from the building’s street entrance. Chesapeake’s flag continues to fly on the property.
The 460,000 square foot office building at 100 Energy Way sits on 14.7 acres near the banks of the Trinity River. Chesapeake purchased the building from its original owner, Pier 1 Imports for $104 million in 2008 as the headquarters for the energy firm’s ambitious Barnett Shale drilling and production plans.
Chesapeake put the building on the market in 2012 as the energy firm began focusing on more liquids-rich drilling properties in other parts of the country.