FORT WORTH-Spire Realty’s foray into the local office market includes the acquisition and $34 million redevelopment of a landmark complex. The Dallas-based company acquired the 1.2 million-square-foot City Place complex from The PNL Cos. and plans to give it a makeover including a new retail plaza and renovation of one of the two towers.

“We are very excited because we have bought a wonderful property in a terrific location,” says Caleb Smith, president of Spire Realty Group. “With the redevelopment, we believe we can bring a positive impact to community as a whole – much like we have tried to do in Dallas.”

Located in the heart of Fort Worth’s dynamic Central Business District, City Place spans four blocks and consists of three separate buildings: One City Place, Two City Place and City Place Center. It was originally developed as the Tandy Center and served as a mixed-use town center and the headquarters of RadioShack Corporation from its opening in 1976 until 2005. RadioShack sold the complex to The PNL Cos. in 2005.