City Place Leasing to Tout Walkable, On-site Amenities
See full Globe St.com article by Lisa Brown here.
Leasing is underway for City Place, a central business district office project. City Place currently offers move-in-ready spec suites ranging from 1,000 to 20,000 square feet in both towers, with a total of 28,000 square feet of contiguous space available for lease.
Stream Realty Partners’ Fort Worth office team of Cullen Donohue and Vic Meyer will be responsible for the leasing and marketing efforts on behalf of Spire Realty Group.
“City Place is a special asset to us and a big part of downtown Fort Worth’s history,” said Jordyn Allen, leasing manager at Spire Realty Group. “We believe that the project’s best-in-class amenities and urban walkable environment make it a highly appealing choice for modern tenants seeking a distinct identity. Spire is looking forward to partnering with Stream to showcase City Place as one of downtown Fort Worth’s only true class-A office projects.”
Overlooking Sundance Square, the two-building class-A office property totals 531,468 square feet and is comprised of One City Place (300 Throckmorton St.) and Two City Place (100 Throckmorton St.). The recently renovated towers offer access to all major transportation arteries and area attractions including Bass Performance Hall, seven hotels, and numerous restaurants and retail destinations.
“With its many on-site amenities and unmatched downtown Fort Worth walkability, City Place provides a best-in-class office experience for its tenants,” said Cullen Donohue, Stream senior associate. “Throughout 2020 and in spite of the pandemic, we have continued to see a flight-to-quality from office tenants. This is evidenced by the nearly 65,000 square feet of positive net absorption experienced in class-A downtown Fort Worth properties. City Place exemplifies the type of quality and walkable office environment that users are searching for.”
The project’s amenities include five on-site restaurants, Aloft Hotel, two fitness centers (one in each tower), a conference center, 24/7 security, banking, valet parking, property management, and views of downtown and the Trinity River basin.
“Tenants are using space to attract and retain talent, as well as boost corporate culture,” Donohue tells GlobeSt.com. “Groups are migrating to class-A buildings with surrounding amenities such as walkable retail and restaurants. As an example, Frost Tower and Proof are still seeing leasing activity despite 20% of tenants downsizing and going to hoteling arrangements. In the end, tenants remain attracted to class-A assets overall.”
Despite the economic slowdown in the energy sector and the global pandemic, the Fort Worth office market continues to show positive signs of activity. For example, class-B space had the largest change in absorption third quarter, while class-A space was positive but flat, according to a JLL third quarter report. Leasing activity has slowed each quarter since the start of the year, according to the report.
Location Mentioned: City Place