F
ort Worth is putting a portfolio of city-owned properties on the market to boost growth downtown. The package includes 222,200 square feet across 1.32 acres, featuring the historic Lone Star Gas Building at 908 Monroe Street and a neighboring structure at 900 Monroe Street. A 338-space parking garage at 319 West 10th Street is also part of the sale. JLL is marketing the site as "the largest currently available site in the city's Central Business District." The asking price has not been disclosed.

    The move aims to revitalize areas lacking investment, particularly around Lancaster Avenue, according to Robert Sturns, Fort Worth's economic development director. This strategy follows a history of selling city-owned assets to stimulate downtown growth, including the sale of the central library for $18 million in 2022.

    The Lone Star Gas Building, designed by Wyatt C. Hedrick in 1929, is a centerpiece of the portfolio and holds historic designation, protecting it from demolition. The building's unique features make it suitable for conversion into residential units or a hotel. The neighboring structure at 900 Monroe Street spans 42,000 square feet but has a demolition delay of up to 180 days.

    The parking garage on West 10th Street includes over 900 square feet leased by Hertz until November 2026. The properties' location near the $700 million convention center expansion and the Fort Worth Texas A&M campus positions buyers for growth. Downtown Fort Worth boasts an expansive office supply, with average asking rents of $34.69 per square foot for Class A space and $23.68 per square foot for Class B space.