Landmark Fort Worth towers are offered for sale
April 27,2021
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