Iconic 550K SF City Place Mixed-Use Development In Fort Worth Hits The Market
The 550K SF City Place mixed-use development in Fort Worth hit the sales block this week, offering investors a chance to nab four city blocks of topline commercial real estate assets near the popular Sundance Square.
The mixed-use city center is located at 100-300 Throckmorton St. and includes two high-rise office towers, known as One and Two City Place, and an eight-level development known as City Place Center that comes with eight parking levels, ground-level retail and restaurant space.
City Place brings traffic to the block through the operation of five restaurants, two fitness centers, a conference center and an Aloft Hotel located inside One City Place tower.
City Place is more than 40 years old. The four-block asset was delivered in Downtown Fort Worth in 1976 as a mixed-use town center. It later served as the longtime headquarters for RadioShack.
City Place underwent major renovations between 2008 and 2014 and eventually transformed into a modern office and retail mixed-use development. The current owners have invested a total of $20M in capital and tenant improvements over the past decade, according to listing brokerage Newmark.
The mixed-use development is 78% leased and sits within walking distance of Sundance Square, Bass Performance Hall and the Fort Worth Convention Center.