SPIRE Wraps Up City Place Redo

SPIRE Realty Group executed a $70 million repositioning project at City Place in Downtown Fort Worth.

SPIRE acquired the three-building property at the intersection of Throckmorton and 3rd streets in 2011. Since then, the firm has overseen a full renovation of One City Place, including the addition of an Aloft Hotel; invested millions into improvements at Two City Place; and turned a vacant mall on the property into City Place Center, which includes structured parking and 31,000 square feet of retail space, including multiple on-site restaurants.

Built in the 1970s to house the headquarters of Tandy Corp., City Place comprises two 18-story, Class-A office towers spanning 539,000 square feet and an Aloft Hotel. A state-of-the-art amenities package includes two fitness facilities and two conference centers.

Improvements to City Place allowed SPIRE to raise occupancy to 90% while increasing in-place rents beyond the submarket average. The complex offers easy access to all major transportation arteries, adjacency to Sundance Square and opportunities for prominent building signage.