Fort Worth buys Pier 1 building

Fort Worth, Texas – On Wednesday, the City of Fort Worth completed its acquisition of the former headquarters building of Pier 1 near downtown, putting the city on the way to a fast move-in to the new City Hall.

Deputy City Manager Jay Chapa confirmed the closing Thursday morning, during the Real Estate Council of Greater Fort Worth’s annual Real Estate Forecast, webcast virtually from the Fort Worth Convention Center.

The city has invested $69.5 million for the building. Speakers at the Forecast noted the sale, one of the city’s few major office transactions to be announced in 2020 as numerous workplaces sent employees home during COVID-19, will subtract a substantial amount of space from the central business district office market.

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