Sundance Square has purchased the Petroleum Building and an adjoining 534-space parking garage. The properties are bordered by Fifth and Sixth streets, and Houston and Throckmorton streets.
Sundance Square is the largest property owner in downtown Fort Worth – now totaling about 4 million square feet of office, retail and residential space.
XTO Energy placed the Petroleum Building on the market about six months ago. They will lease back the building until the summer, and have the option to lease for an additional year.
Once XTO moves out, it’s not clear what Sundance Square has planned for the building, but it has been reported they’ll likely use the parking garage for free parking for downtown guests at night and on weekends, as they have with many of their other parking facilities in downtown.