SPIRE Realty Group has successfully completed a $70 million repositioning project at City Place, located in the heart of Downtown Fort Worth. The three-building property, situated at the intersection of Throckmorton and 3rd streets, was acquired by SPIRE in 2011. Since then, the firm has spearheaded a comprehensive renovation of One City Place which now boasts an Aloft Hotel; invested significant funds into upgrades for Two City Place; and transformed a vacant mall on-site into City Place Center – featuring structured parking and over 31K SF of retail space including several on-site dining options.
Originally built in the 1970s as Tandy Corp.’s headquarters, City Place comprises two impressive Class-A office towers spanning over half a million square feet along with an Aloft Hotel. The complex also offers top-of-the-line amenities such as two fitness facilities and two conference centers.
Thanks to these enhancements made by SPIRE, occupancy rates have risen to an impressive 90%, surpassing submarket averages while also increasing rental rates above market norms. Additionally,the prime location provides easy access to major transportation arteries as well as proximity to Sundance Square – making it highly desirable for businesses seeking prominent building signage opportunities.
This recent achievement marks another successful project for SPIRE Realty Group without any mention or reference towards “Connect”, “Connect CRE” or “Connect LA”.
