In July, D CEO reported that a source had said that the Dallas Petroleum Club would be relocating and Hunt’s headquarters was a possibility. Now, the move has been formally announced and confirmed.
Hunt Consolidated and the Dallas Petroleum Club have come to an agreement on a 15-year lease that will move the club into the Hunt headquarters at 1900 North Akard beginning in January 2023.
“The Petroleum Club is one of Dallas’ oldest and most respected organizations and their commitment to the greater Dallas community is undeniable,” Ray Hunt, executive chairman of Hunt Consolidated and former president of the Dallas Petroleum Club, said. “We are extremely pleased that they have selected our headquarters building as their new home and look forward to welcoming them to one of the most dynamic areas of downtown Dallas.”
Throughout the years, the club has relocated several times. In 1940, it leased a paneled lounge and dining room on the ground floor of the Adolphus Hotel. In 1950, an addition was built onto the Baker Hotel, and the club moved there in 1952. In 1965, it took occupancy of the 48th and 49th floors of the new First National Bank Tower at 1401 Elm Street. Twenty-one years later, in 1986, the Club struck a deal with Trammell Crow to move to the top two floors of his newly constructed Texas Commerce Tower—now called Chase Tower.
With this latest agreement, the Dallas Petroleum Club will occupy the top two floors of the 14-story Hunt building—which was the first large, privately owned, single-tenant building constructed in the Dallas Central Business District since the 1990s. The top floor will be the club’s main dining area, and private dining rooms will be available on the floor below.
“Arrangement for a new updated space became a paramount consideration as our growing club felt the need for further enhancements,” Jack Lafield, president of the Dallas Petroleum Club, said. “Hunt’s headquarters building is in a prime location and the Club’s new quarters will be housed in a space like no other. This is a new era for the Petroleum Club and a new outlook for a healthy, energetic club holding proudly to a distinguished past. Partnering with such a distinguished Dallas industry family made our decision to relocate much easier.”
The Dallas Petroleum Club will be the second new tenant for Hunt’s building. Last month, JPMorgan Chase announced it would also leave Chase Tower to take five floors in the property, beginning in the third quarter of 2022.
Dallas Petroleum Club was represented in the deal by Jeff and John Ellerman, and Hunt was represented by Peter Yates, Ryan McManigal, and Chris Selbo with OliveMill Holdings.
Diane Hornquist works with the general counsel to oversee legal activities associated with various land development and operating company initiatives. Hornquist began her legal career at the Dallas office of Jackson Walker LLP in the real estate section.
Mike Wallace is responsible for all aspects of Hunt Realty Investments overseeing the firm’s direct-owned real estate portfolio, operating company investments and other real estate activities. He is responsible for sourcing and structuring all new investment activity, as well as Hunt Realty’s interaction and investment relationship with other Hunt-related entities.
Throughout his career, he has been involved in investments in single-assets, real estate portfolios, distressed loan portfolios and private and publicly-traded companies including equity, preferred equity, mezzanine and participating debt investments. His experience spans a broad array of product sectors including office, multi-family, hospitality, retail, senior living, student housing, industrial, residential and land.
Prior to joining Hunt Realty, Wallace was with The Hampstead Group, a Dallas-based real estate private equity fund which invested approximately $1 billion on behalf of institutional and private investors. While at The Hampstead Group, his responsibilities included new investment opportunities in real estate portfolios, publicly-traded companies and distressed loan portfolio acquisitions as well as management of the fund’s investments. He also previously worked for EFO Realty, a real estate opportunity fund where he sourced and structured joint-venture equity investments.
Chris Kleinert is CEO and president of Hunt Consolidated Investments, LLC, and Co-CEO of its holding company, Hunt Consolidated, Inc. He is president of Hunt Realty Investments and oversees the operations of both Hunt Investment Group and Hoodoo Land and Cattle Company, as well as the financial activities of the holding company. Other business interests of Hunt Consolidated, Inc. include oil and gas exploration and production, petroleum refining, electric power generation and transmission. Kleinert’s affiliation with Hunt Consolidated began in 1996. Kleinert received an MBA with a concentration in finance from Texas Christian University and a BBA in marketing from Southern Methodist University. Prior to joining Hunt, he was employed by Texas Commerce Bank (now JPMorgan Chase) and General Mills. Kleinert serves on the Investment Committee of the Board of Trustees of Southern Methodist University and SMU’s Tate Lecture Board of Directors. He also serves on the Neeley School of Business International Board of Visitors at Texas Christian University, the Board of Trustees of the Communities Foundation of Texas, the Board of Directors of Amegy Bank -Dallas, and the Dallas Regional Chamber’s Board of Directors. Kleinert chairs the Board of Directors of the newly created Men’s Advocacy Group for New Friends New Life. In 2009, Chris and his wife, Ashlee, founded Executives in Action (EIA), a nonprofit organization that leveraged the talent and expertise of executives in transition with local charitable organizations to enhance their productivity, efficiency and overall impact. In 2016, EIA merged 4 with New York-based Catchafire, Inc. to form Catchafire North Texas and expand the number of volunteers and nonprofits that can be matched nationally.