Spire Realty Outlines $34M City Place Redevelopment

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.”