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New Buyer Lining Up Wrecking Ball for Tornado-Damaged Bank One Tower

FT. WORTH-A curve ball has been tossed on the same day that a tenant in the tornado-damaged Bank One Tower goes to court for an injunction hearing to stave an eviction and building demolition. A new buyer surfaces and the wrecking ball's been ordered.

By Connie Gore | Updated on February 21, 2001

FT. WORTH-The 37-story Bank One Tower’s fate is sealed, the news coming late Tuesday that the 487,000-sf building is being sold to Ft. Worth-based Fine Line Diversified Realty Inc. and razed due to irreparable damage from the March 28, 2000 tornado.

The announcement makes for a strategic endplay to an injunction hearing held earlier Tuesday to block owner Loutex Fort Worth from evicting the Reata restaurant and demolishing the building. The Reata’s owner had taken the legal recourse after getting an eviction notice just days after property manager Trammell Crow Co. had backed out of a sales option as a result of a structural analysis. The Reata and Trammell Crow have been the only occupants for some time now, with the Trammell Crow staff gearing up for a March 16 move to a nearby company-owned building.

The Fine Line pact falls within days of a fire marshal’s report that orders Loutex to “make extensive and expensive repairs to ensure that the tower would be safe for occupancy,” according to Tuesday’s news release. In line with the fire marshal’s report, Loutex is asking all occupants to vacate “in a responsible manner.”

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