FRISCO, Texas – April 21, 2010 – Mark Depker, president of Hall Financial Group’s management division, announced today that Citrus Energy, an oil and gas exploration and development company, has signed a new five-year lease for 10,093 square feet at 2600 Network Boulevard in Hall Office Park for its regional office.
Headquartered in Castle Rock, CO, Citrus Energy has operated since 1989 exploring and developing oil and gas regions in Oklahoma, Pennsylvania, Texas and Washington. The company is privately held by two owners whose small business model has provided an efficient system for managing all aspects of project development from lease acquisitions through drilling and into production. Citrus Energy holds 20,000 acres in Fort Worth and is currently developing its leasehold positions in the Barnett Shale.
“We are proud to welcome Citrus Energy to Hall Office Park,” said Depker. “Recognizing that businesses have multiple space options to choose from, our goal is to continuously provide and improve upon the services and amenities we offer so that our tenants are successful and can grow within the park.”
“We were impressed with the quality of office space and setting at Hall Office Park,” said Sharon Alexander, chief financial officer, Citrus Energy. “Hall Office Park offers convenient access to major freeways, shopping and dining, as well as top-of-the-line amenities, which factored into our decision to move our regional office to Frisco.”
Jean C. Farris, former director of leasing, handled negotiations on behalf of owner and landlord, Hall Financial Group. Roy Reis of Mohr Partners handled negotiations on behalf of the Citrus Energy.
ABOUT CITRUS ENERGY
Founded in 1989, the company has grown through property acquisitions and drilling programs in a number of states. Owners Lance Peterson and David Oberbrockling are personally involved in the day-to-day operations of the company ensuring that the most advanced technology is used to drill and complete its shale projects. This strategy has rewarded its leaseholders with the shortest possible time period between inception of a lease and a steady stream of revenue from a successful well. Recently, the company has focused on pursuing and drilling acreage acquired in unconventional shale resource projects like the Barnett Shale in North Texas and the Marcellus Shale in Pennsylvania. The company is headquarted in Castle Rock, Colorado with a regional office in Frisco, Texas. Current activity at the Marcellus Shale will lead to another office in Pennsylvania.
ABOUT HALL OFFICE PARK
Hall Office Park is Hall Financial Group’s award-winning 162-acre development in Frisco, Texas. Master planned for 3 million square feet of Class A office space, Hall Office Park has contiguous space available from 1,000 to 70,000 square feet in 15 architecturally distinct office buildings. More than 165 companies with a total of 7,550 employees currently call Hall Office Park home. Conveniently located less than 30 minutes from DFW Airport and downtown Dallas, the multi-tenant development is seconds from world-class shopping, dining, sports, entertainment and residential options. Hall Office Park combines upscale lifestyle amenities with artistic beauty, featuring more than 165 important pieces of contemporary art throughout the grounds and within building lobbies. The collection includes the Texas Sculpture Garden, recognized as the largest private collection of its kind ever assembled and made available to the public. For more information, visit www.hallofficepark.com and www.texassculpturegarden.org.
ABOUT HALL FINANCIAL GROUP
Founded in 1968, Hall Financial Group is owned by Craig Hall and family. Diversified holdings include active operations in commercial real estate development, ownership and management; software application development; structured finance lending for real estate and other areas; vineyards and wineries; and oil and gas. For more information, visit www.hallfinancial.com.