117 replies to this topic

[Thurman52]

From GlobeSt.Com

Tandy Center's Owner Switches Plan After Landing Four-Floor Tenant
By Connie Gore
Last updated: February 24, 2006 07:30pm

FORT WORTH-With class A office space at a premium, the three-year owner of the 1.2-million-sf Charles D. Tandy Center has nipped a plan to go all condo in a $100-million redevelopment of the two-tower CBD landmark. With a just-signed, 10-year lease, a 320,000-sf tower is undergoing a $35-million, class A upgrade.
David Porter, president of PNL Cos. of Dallas, has done the about-face after landing a 65,000-sf, four-floor lease with Range Resources Corp. The landmark's retooling has just ramped up so Range Resources can get in the door in first quarter 2007, Porter tells GlobeSt.com.

Porter says the deal for floors nine through 12 went full circle in three months. "They needed to find another block of space Downtown," he says. "They had a few options, but I think they were intrigued by what we were doing."

Fort Worth has one of, if not the, tightest CBD office markets in the state. "It was very important for our employees to be able to stay Downtown," Rodney Waller of Range Resources says in a press release. The firm offices at 777 Main St., which reportedly didn't have enough space to meet Range Resources' expansion requirement. Jack Huff and Kyle Poulson with Huff Partners represented Range Resources.

PNL bought Tandy Center at 100 Throckmorton St. in December 2001 from its long-time owner, RadioShack Corp., which has since relocated to a $200-million-plus headquarters at the CBD's edge. PNL's Sundance Square centerpiece will be renamed to City Place. The 320,000-sf North Tower has been dubbed Two City Place. The South Tower, which will still be converted into condos, will be branded as One City Place.

Porter's renovation plan calls for all glass to be replaced with energy-efficient panes; mechanical, elevator and common area upgrades; 300 parking spaces to complement a 400-space garage; and 10,000 sf of retail, including a US Post Office. An existing mall area will be gutted and brought back as parking and retail in a redesign that is now under way. When that's done, Porter says he will ramp up work on the residential tower.

Porter has been sitting on a final decision about the North Tower about 18 months. He repeatedly said the decision would rest on the market--and a 6.7% office vacancy in the Downtown apparently was the decisionmaker.

[WTx]

I always wondered why they didn't use some of the two currently empty buildings as office space. Looks like they are now. With such a tight office market and two empty buildings sitting there I figured something had to give. I think this is a good move. I wonder if this may be a sign for the future for the two buildings as mixed use space???

[DrkLts]

From GlobeSt.Com

Fort Worth has one of, if not the, tightest CBD office markets in the state. "It was very important for our employees to be able to stay Downtown," Rodney Waller of Range Resources says in a press release. The firm offices at 777 Main St., which reportedly didn't have enough space to meet Range Resources' expansion requirement.

I wonder how many other businesses have expressed interest in downtown but had no building to accommodate them and gave up on FW? More towers ya'll!

[John T Roberts]

Here is the full press release e-mailed to me this morning:

NEWS RELEASE: For immediate release



Range Resources signs as anchor tenant in conversion of Tandy
Center’s North Tower to Class A Office



Conversion adds 300,000 square foot of much-needed office space to downtown Fort
Worth



FORT WORTH, TX (February 24, 2006) – Office tenants in the very tight
downtown Fort Worth market now have a new option to consider. PNL Fort
Worth, L.P. has announced its plans to fully renovate 100 Throckmorton Street,
the 320,000 foot North Tower of the former Tandy Center, to Class A office space.
Range Resources Corporation (NYSE:RRC) will be the anchor tenant for
approximately 65,000 square feet in the mid-level of the tower, excluding
expansion options.

“Range is one of the most exciting public companies in Tarrant County
and we are very pleased to kick off our leasing of the project with a growing
tenant of this size and caliber,” said David Porter, President of PNL.

Range Resources is an oil and gas exploration and production company
with a market capitalization of $3.2 billion. It is moving from 777 Main Street
which does not have vacant space to accommodate its growth. “It was very
important for our employees to be able to stay downtown,” said Rodney Waller

of Range Resources. “This move will put us in a building more central to
Sundance Square, the heart of downtown, as well as looking out on the new
Trinity River Vision development.” Waller estimates the move will give Range


Resources one and a half to two times the amount of space they occupy
currently.

The company will take four mid-rise floors in the tower that was Radio
Shack’s headquarters before the company moved to its new riverfront campus in
2005.

Range Resources was represented in the selection of its new national
headquarters by Jack Huff and Kyle Poulson of Huff Partners. The lease is the
largest office relocation in downtown in over a year. “Range Resources has
outgrown their current space, and the Tandy Center redevelopment provides the
best block of available Class A space in one of the most ideal locations in our
city,” Poulson said. “Everything was right about this transaction, including the
timing for everyone involved. Range Resources was able to secure the site they
wanted and will be involved in the finish out of the floors to meet their needs
and desires. Occupancy should occur in about a year.”

Though PNL will continue with plans to convert the South Tower into
condominiums, the ultimate use of the North Tower as office space was only
recently set in response to the strong demand for Class A office space in
downtown Fort Worth. The overall redevelopment is estimated to cost over $100
million and will be renamed City Place, with the South Tower condominiums
becoming One City Place and the North Tower office being redeveloped as Two
City Place.

The $35 million redevelopment of Two City Place to Class A standards is
anticipated to include the following improvements:



• Replacement of all glass with energy efficiency double-pane glass
installed flush with the exterior frame of the building.
• Full upgrade of heating and air conditioning HVAC systems
• Renovation of restrooms including ADA access
• New exterior finishes on the bottom floors of the building
• Addition of a rooftop architectural feature with dramatic illumination
• Creation of approximately 300 new parking spaces, in addition to the
existing 400 space garage



• Demolition of the Throckmorton overhang, which will open up the north
end of Throckmorton Street
• Approximately 10,000 square feet of retail space including a US Post
Office
• Construction of a private landscaped motor court the width of a full city
street on the south side of the tower
• New floor elevator lobbies and all new main lobby
• Sprinklers installed throughout the entire building (recently completed)
• Abatement of asbestos (currently under way)
• Elevator upgrades


The decision to renovate the North Tower as office will require some
redesign of the central block between the motor court to the north and the to-be-
reopened Second Street to the south. Once this final design work is completed
PNL will be ready to commence demolition of the Mall for parking and retail
and kick off the renovation of the South Tower to residential condominiums.

[JKC]

At this point, anything at all actually happening in either tower would be a step forward and good for the market.

[vjackson]

This is very good news for DTFW and way overdue.

[WTx]

Renovation of restrooms including ADA access

Ha!!!

Anybody ever see the bathrooms on the upper floors? I had the occasion to go up to the 19th of the south tower. I went in to go to the bathroom and thought I walked back into a deep 70's time warp. UGLY orange tile from floor to ceiling. I don't think they touched the bathrooms since they built the towers.

[mosteijn]

I think it's great that now both towers will be worked on at the same time, it would have been kind of awkward having the South Tower done with the North Tower still in limbo. It also speaks very well of Fort Worth's downtown market. An article about it in the FW Biz Press said that Range Resources space in Carter-Burgess Plaza was leased almost immediately after RR signed the CityPlace deal. It also said that Two CityPlace will hardly make a dent on the demand aspect of Class A space and that it would take a lot more space to truly change the market downtown. Doesn't that sound exciting?

[mosteijn]

Here's another article, from the BizPress, nothing new really, but a few little details stuck out.

http://www.fortworth...lay.php?id=4732

Design plans for the building, located at 100 Throckmorton St., include an exterior tower glass overhaul and replacing the aging plates with dual-pane Viracon glass, which will change both the color and architectural look of the tower since most of the glass will be moved out from its current recessed position on the building.

Lighting features will also be added to the top of the building and the base of the office tower will be re-clad up to 40 feet high.

The conversion to office space began in March at Two City Place to prepare for Range Resources’ pending move. With a completed sprinkler system installed and final design plans set, Porter said it won’t be long until physical renovations start.

In the mean time, Porter said he has had several discussions with potential tenants.

Porter said Two City Place is expected to be complete by April 1, 2007, and One City Place is expected to be complete by late 2007.

[safly]

I was hearing that the JPowers Group is moving out of the new Bank One building, and headin south.

Wonder why they haven't been looking into the Cityplace.

[njjeppson]

Here's another article, from the BizPress, nothing new really, but a few little details stuck out.

http://www.fortworth...lay.php?id=4732

I like this quote from the article:

"Porter added that an additional tower could be constructed between the two existing towers to serve as a second phase for residential development constructed at the corner of Second Street and Throckmorton."

[Thurman52]

Looks like they have started replacing the windows on the Westside of the tower. I would have expected construction fencing etc. The plywood in the window caught my eye coming back from lunch.

[John T Roberts]

This weekend, I was looking for any window changes, but I didn't see any. I will try to catch the renovations this week.

[Now in Denton]

Looks like they have started replacing the windows on the Westside of the tower. I would have expected construction fencing etc. The plywood in the window caught my eye coming back from lunch.

Kinda sad if plywood over a few windows get Fort Worth folks hopping.

[Now in Denton]

Looks like they have started replacing the windows on the Westside of the tower. I would have expected construction fencing etc. The plywood in the window caught my eye coming back from lunch.

There is some serious Crane action taking place today. Looks like things are about to speed up.

Can't wait to see the new oval crown and the new green glass.

[John T Roberts]

I was downtown earlier today, and all of the plywood on the west side of the tower has been removed. There were trucks lined up on Belknap, and they looked like they had mechanical equipment on them. They were probably using the cranes to put the mechanical equipment in place.

[Thurman52]

Downtown design board has two cases related to the City Place Two (South Tandy Tower). One case is for:

DG06-67 100 Throckmorton Street, City Place Two
Owner/Applicant: PNL Fort Worth/Gideon Toal
Architects
Requests a Certificate of Appropriateness to
install:
1. New exterior plaza, which includes paving,
shade trees, and a planter with an integrated
water feature;
2. New landscaping including shade trees;
3. New paving;
4. New street lighting; and
5. New exterior lighting

2nd Case is for, temporary banners (ads I bet) and construction barriers for nine months, I guess this means they are preparing to start work

[John T Roberts]

Thurman, I just received my agenda today. I will try to post the whole thing tomorrow, as there are some other cases of interest to the forum.

[apearson28]

Thurman, I just received my agenda today. I will try to post the whole thing tomorrow, as there are some other cases of interest to the forum.

you have my attention

[John T Roberts]

Believe it or not, I have lost the agenda. I'm going to see if I can dig it up. The main cases were regarding City Place/Tandy Center.

[John T Roberts]

Here's a look at the new glass. It is less reflective than the old, set closer to the face of the building, and the curtain wall frames will have a clear anodized finish as opposed to the original bronze anodized finish. The new glass is in the center section of the tower.

[Fort Worthology]

Been noticing the progress myself, and meant to take some shots. Looks like our Mr. Roberts beat me to it.

The new glass is a big improvement over the old, in my opinion. From the renderings, I'm looking forward to the progress on the old Tandy Towers, which in their natural form have never been particularly attractive to me.

[DrkLts]

From the looks of the new windows, I like it!
Even tho the windows are less reflective, them being being out to the face of the building will make the tower more glassy than the current concrete look.

[DrkLts]

Oh, by the way...
Other than the shade of glass, the windows seem to look the same style as the old. Why not save money and push out the current glass? Kinda seems like a waste of windows to discard it all even tho there is nothing wrong with them. Isnt it too expensive to change glass just for "personal taste" rather than functionality?

[redhead]

In a conversation with Mr. Porter and some GT folks, he stated that the space he would gain by pushing out to the edge would cover the cost of replacing the glass. Didn't hear over what period of time---a year, a decade, or a century???

[safly]

More like when they SELL IT!

[Fort Worthology]

Another view of the glass progress:



I noticed today that the new glass really is dramatically less reflective than the old. You can now easily see through the glass to the interior, and in fact out the other side in cases where you can see such angles. It really does change the character of the building.

[JBB]

I noticed while exiting off of 30 onto Cherry that you can see through the building on the floors with new glass.

[Now in Denton]

There is a bold new banner up today. Says One City Place. Hope someone gets a snapshot of it.

[Shocker]

Can anyone tell me why the glass is being installed in such a random fashion? They started near the middle, worked down a few floors, now they're up higher doing about half a floor each and then moving up some more. There must be some logic to it. Here's a photo from today:

[John T Roberts]

Shocker, there may be several factors involved here. Range Resources may have leased floors in the middle of the tower. If they did, then replacing their windows first would lead to a faster move in for them. Many of these towers actually have different floor to floor heights and it could be that the middle levels had the most consistent dimensions on the glazing, so that area was replaced first to get the most glass replaced in the quickest amount of time. It also could be that the horizontal dimensions between the columns is slightly greater at the top, yet on the middle levels it was more uniform. The uniform curtain wall sections may have been placed first and now the varied sections are being installed.

[Shocker]

Here is an update on the project. They are working on the glass on the top floor.

[JKC]

More like when they SELL IT!

It's for sale, make an offer!

[Thurman52]

Northbound lane of Taylor was closed off this weekend. I was caught this morning, I typically sneek down Taylor to avoid the crowds on Throckmorton.

We saw this permit listed a month ago for construction related activies. Does anyone know if this is for DEMO of the mall or is this other phases?

Northbound lane of Taylor was closed off this weekend. I was caught this morning, I typically sneek down Taylor to avoid the crowds on Throckmorton.

We saw this permit listed a month ago for construction related activies. Does anyone know if this is for DEMO of the mall or is this other phases?

[DrkLts]

Today's S-T article (I saw it online) says a new model of the plan calls for both towers to look slightly different...

Here's the article and photo

[Perkins]

Thanks for the article, big changes to the N.tower!

I read that painting the tower/s will begin next week. Hmm…

Interesting article!

[Now in Denton]

Today's S-T article (I saw it online) says a new model of the plan calls for both towers to look slightly different...

Here's the article and photo

They keep updating what thier going to do. But I see no real new news? Other than it looks like just one tower will have the oval crown? To bad. And that thier going to have a wait and see before going forward to build a new 20 story office tower. I just hope someone builds 1000ft tower and deal with office space for good and lets move on.

[DrkLts]

I think the twin towers should remain twins. Although different uses for each one, anyone else think it makes any sense to make them each different from each other??? Just curious

[jefffwd]

I think the twin towers should remain twins. Although different uses for each one, anyone else think it makes any sense to make them each different from each other??? Just curious

I think it makes sense to make them distinctively different. Since the street is bisecting the project with residential on one side and office on the other, I don't have a problem witht them being different. Actually, I was having a problem with them being identical but having different uses but that's just me.

[Perkins]

Good question, I have thought that they should stay the same in appearance, but this could be because this is what I am used to looking at, for as long as I can remember. Being different is going to cast a completely different look coming from west.

I always picture them as little outdated twins.

I might have to play with that new look on the comp. If I get it done, I will share it with you guys.

[Now in Denton]

Im all for a major makeover look. But still be twins. IMO. In fact at the Fort Worth Library. I saw a book back in the 70's and it had a picture of two more 20 story Tandy Center looking buildings. And a 5th tower that was about 50 stories tall looking like the others just taller. But im glad thos other three were never built.

[Perkins]

Call me crazy, but I was looking at the roof in the top images and I couldn’t help but think about standing up there with a stiff breeze and it starts to ice over.

If one started to slide what would stop them?

Are there no guidelines on a rail or something along the edge (code)?

Kind of creepy (long Fall)!!

[AdamB]

I would definitely not want to be on that roof top for any reason... I have a really weird thing about heights which I never understood. When I was a kid/teenager I could walk up to the edge of something look 200 feet down and it would not bother me at all. However, now I have to keep a distance of at least 7-8 feet because I am always tempted to look over the edge and I can never trust myself to be careful ir to not get too close. It is like being afraid of the fact I have no fear. Strange...

Anyway... disappointed to see that they are not following the original plans, I am left wondering however if the third tower gets built, will it match the residential or office building. I think that may be the best answer to go ahead and change up the appearances of both and then build the third one to match one of the buildings so you have a new set of twins that are closer together.

[John T Roberts]

Perkins, back in the 1970's, building codes did not require rails, or walls to keep people from falling off of a roof. This type of construction was very common for concrete framed buildings constructed during that time period. I believe current building codes now require at the minimum a rail around any rooftop equipment that are within 10 feet of the edge of a roof. If a roof has a parapet of at least 42 inches, then no rails are required on the roof.

Both of these buildings are very clean on top. The North Tower virtually has no equipment on top, except for the satellite dish, the stack going through the penthouse, and the penthouse itself. There are no cooling towers on the roof because they are placed on top of the parking garage toward Throckmorton & Belknap. The South Tower has a few exhaust fans and one vent stack. The cooling towers on this building are located within a recessed well inside part of the top floor. Office space surrounds the mechanical well. A vertical ladder leads from this well up to the main roof.

Current codes now require at least one stair in a building to have direct access to the main roof.

[Thurman52]

For those that have missed it, they closed Throckmorton this week. I guess for removal of the overhead structure.

[hooked]

Taylor Street is closed, also, north of 4th Street, at least for now.

[Perkins]

Perkins, back in the 1970's, building codes did not require rails, or walls to keep people from falling off of a roof. This type of construction was very common for concrete framed buildings constructed during that time period. I believe current building codes now require at the minimum a rail around any rooftop equipment that are within 10 feet of the edge of a roof. If a roof has a parapet of at least 42 inches, then no rails are required on the roof.

Both of these buildings are very clean on top. The North Tower virtually has no equipment on top, except for the satellite dish, the stack going through the penthouse, and the penthouse itself. There are no cooling towers on the roof because they are placed on top of the parking garage toward Throckmorton & Belknap. The South Tower has a few exhaust fans and one vent stack. The cooling towers on this building are located within a recessed well inside part of the top floor. Office space surrounds the mechanical well. A vertical ladder leads from this well up to the main roof.

Current codes now require at least one stair in a building to have direct access to the main roof.

That is very interesting info Mr. Roberts! I find it hard to believe that the "roof" safety issues were not that effective all the way to the 70's!

I look at that roof and it creaps me out!

[sarahlmac]

Does anyone know when One City Place will have its grand opening or debut its sales center? Or have models open? I can't find a schedule anywhere.

[JKC]

Does anyone know when One City Place will have its grand opening or debut its sales center? Or have models open? I can't find a schedule anywhere.

Since the office market reported such high occupancy, the South Tower seems to have become less active and the focus has been on the North Tower. Several months ago construction was going on the sales center about mid block on 3rd street. But I haven't seen it open.

[sarahlmac]

Does anyone know when One City Place will have its grand opening or debut its sales center? Or have models open? I can't find a schedule anywhere.

Since the office market reported such high occupancy, the South Tower seems to have become less active and the focus has been on the North Tower. Several months ago construction was going on the sales center about mid block on 3rd street. But I haven't seen it open.

Thanks!