Landmark Fort Worth towers are offered for sale
See Dallas Morning News article by Steve Brown here.
One of downtown Fort Worth’s biggest office campuses is for sale.
The two-tower City Place complex has more than 550,000 square feet of office space on downtown’s northwest side.
The four-block commercial building complex was built in 1976 as the Tandy Center, an office and retail mixed-use project that housed the headquarters for Radio Shack’s parent firm.
The property is owned by Dallas-based Spire Realty Group, which has spent more than $20 million on upgrades to the buildings.
City Place also has five restaurants, two fitness centers and a conference center. The buildings are 78% leased. Commercial property firm Newmark is marketing City Place for sale.
“City Place is a rare and well-timed opportunity for investors to acquire a critical mass of institutional-quality product within one of the nation’s most vibrant and walkable urban centers,” Newmark’s John Alvarado said in a statement.
Newmark’s Alvarado, Gary Carr, Robert Hill and Chris Murphy are handling the sale.
City Place is hitting the market just as another Fort Worth high-rise changes hands.
A New York investor, Opal Holdings, just bought the 40-story Burnett Plaza, downtown Fort Worth’s tallest skyscraper.
Location Mentioned: City Place