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Full-Court Press on at $500M, 279-Acre MXD

FORT WORTH-Fine Line Diversified's hunt is on for a buyer or development partners for retail, office and residential land beside Texas Motor Speedway.

By Connie Gore | Updated on November 14, 2007

[IMGCAP(1)]FORT WORTH-Fine Line Diversified Development has started its hunt for a buyer or development partners for 279 acres of prime commercial land beside the Texas Motor Speedway. And if the price is right, the Barnett Shale mineral rights could go on the table.

Fine Line is a Fort Worth-based investment partnership led by Ed Bass, who acquired the commercial site, with entitlements in place, in February from its master planner, Frank W. Harrison III, president of Dallas-based Beechwood Co. The acreage has one mile of frontage along Interstate 35W and two miles along Texas 114, with the NASCAR track right next door. As would be expected, there’s no price tag attached, but the build-out potential is 1.5 million sf of retail, 800,000 sf of office and high-density residential in an estimated $500-million development making its rounds as Champions Circle.

After nine months of massaging the plan, Fine Line has started to court the market with a flexible offer to sell all, part or co-develop. “One of the more attractive things in our ownership of this land is our willingness to consider a lot of options,” William V. Boecker, Fine Line’s president and CEO, tells GlobeSt.com. “And we will use it to our advantage.” And, he says, Fine Line is “open for discussion” about including the Barnett Shale mineral rights.

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