City of Fort Worth Closes on Pier 1 Purchase
See full Fort Worth Magazine by Scott Nishimura here.
The City of Fort Worth on Wednesday completed its purchase of the former Pier 1 headquarters building near downtown, setting the city on a path for a quick move-in to its new City Hall.
Deputy City Manager Jay Chapa confirmed the closing Thursday morning, during the Real Estate Council of Greater Fort Worth's annual Real Estate Forecast, webcast virtually from the Fort Worth Convention Center.
The city paid $69.5 million for the building. Speakers at the Forecast noted the sale, one of the city's few major office transactions to be announced in 2020 as numerous workplaces sent employees home during COVID-19, will subtract a substantial amount of space from the central business district office market.