Fort Worth-based limited partnership buys Sinclair Building

     (FORT WORTH, TX) --- Richard T. (Rick) Baumeister, Jr., has announced that Sinclair Building Partners, LP, a local investment group that he heads along with his wife, Allyson, and Ken Jaffe, has purchased the historic 16-story Sinclair Building at 512 Main Street in downtown Fort Worth from California-based Debir Realty Corporation.

     “It is such an historic building in the heart of Fort Worth, and I have always admired the architecture,” Mr. Baumeister said. “Our group jumped at the opportunity to purchase the building, and we are especially gratified to return ownership to Fort Worth.”

     Paul Reitz brokered the deal for the sellers. Ken Jaffe, of Swearingen Realty Group, LLC, represented the buyer.

     The deal closed September 19, and the terms were not disclosed.
At nearly 100,000 square feet, the Sinclair Building was built in 1930 and underwent an award-winning renovation in 1989. The building's current occupancy is at almost 99 percent. The Sinclair Building partnership will operate, lease, and improve the property.

     Recorded as an historic site in 1990, the Sinclair Building is located in the heart of the vibrant downtown Fort Worth business and entertainment district. The building is within steps of Sundance Square, surrounded by restaurants, retail, hotels, entertainment, and residential properties.

     The building features one of the most recognizable ornate marble and limestone façades in the city. With a retail arcade on the ground floor, 15 floors of office space, and storage on the basement level, the concrete structure is clad with limestone and pre-case concrete. The ornate art deco Main Street entrance is one of most unique in the city. Inside, the average floor size is 6,400 square feet.

     The interior of the building includes a lobby and retail arcade with extensive period details such as green marble concourse walls, a cast plaster ceiling, and patterned marble floors.

     The multi-tenant floors include two that have been restored to their original appearance with current state of the art technical upgrades. Each floor has common areas, lobbies, and corridors with mahogany trim, plaster ceilings, and indirect lighting, along with period mahogany and glass interior doors.

     The Sinclair Building was originally constructed and completed by Harry B. Freidman and acquired its current name within a few months, upon the execution of a significant lease with the Sinclair Oil Company. The architect was Wiley G. Clarkson. The Sinclair Building is one of the most significant buildings of the period.
The Reaut Corporation acquired the building in 1988 and completed an award-winning renovation effort by the following year, restoring its original beauty and character.

      In 1990, the Sinclair Building became listed on the National Register of Historical Places and received recognition by the City of Fort Worth as a Historical Landmark.

     Additional renovations by Sinclair Building Partners are currently underway.

     Sinclair Building Partners, LP has an office at 201 Main Street, suite 1250 in Fort Worth and is on the web at www.sinclairbldg.com.