Pier One Place
#201
Posted 06 October 2015 - 08:52 PM
#202
Posted 06 October 2015 - 09:20 PM
This will be an interesting addition to downtown. It's also interesting to note of how master plans change. When Pier 1 Place opened the company commented that the design of the grounds allowed for two more office buildings to be constructed on the site.
#203
Posted 07 December 2015 - 09:18 PM
#204
Posted 07 December 2015 - 10:37 PM
I was disappointed over the weekend to see that they're no longer doing the beautiful light display in the trees on the property. I'm sure it was insanely expensive, but I always thought it was really nice.
LED's cost next to nothing to operate.
http://connect.xcele...eally-save-you/
It was really nice, they've not done it in a few years now. Since 2013 or 14 maybe.
#205
Posted 08 December 2015 - 04:33 PM
I was disappointed over the weekend to see that they're no longer doing the beautiful light display in the trees on the property. I'm sure it was insanely expensive, but I always thought it was really nice.
LED's cost next to nothing to operate.
http://connect.xcele...eally-save-you/
It was really nice, they've not done it in a few years now. Since 2013 or 14 maybe.
I think the light display was mainly a Chesapeake thing, since they owned the building when it was done.
- RD Milhollin likes this
#206
Posted 08 December 2015 - 05:13 PM
LED's cost next to nothing to operate.
I was referring more to the costs of installing the lights and taking them down each year.
#207
Posted 23 February 2016 - 08:29 PM
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#208
Posted 18 October 2016 - 11:23 PM
#209
Posted 19 October 2016 - 07:42 AM
I saw the lights while riding my bike this morning.
#210
Posted 19 March 2018 - 05:07 PM
https://www.dallasne...worth-tower-buy
#211
Posted 19 March 2018 - 06:43 PM
I'm more concerned with him saying:
"It's the most beautiful building in Tarrant County."
Pier 1 is nice, sure, but not even close to MOST beautiful...
#212
Posted 20 March 2018 - 11:58 AM
#214
Posted 20 March 2018 - 06:47 PM
It's not my favorite building in town, but I can really respect it for what it is and what it was when it was built - a replacement for a very dated facility that was destroyed in the tornado and a modern breath of fresh air in an era when so much of what had been built in and what was proposed for downtown came from the Schwartz camp. It really is beautifully laid out against the skyline on an approach from the west and I love watching it come into view as you traverse Belknap from the east. The lighting package has changed a great deal from the original, but I'll never forget its presence on a foggy or cloudy night in those first few years.
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#215
Posted 20 March 2018 - 08:17 PM
#216
Posted 20 March 2018 - 08:24 PM
I wonder why Hines is selling. They sold off the 3 acres for the apartment project, rebuilt the visitor parking, got the building 100% leased and now are leaving? What's up with that?
#217
Posted 21 March 2018 - 08:54 AM
They learned Pier One's ancient dark secret: the company's longevity despite the fading fashions of wicker furniture is because Pier One Place is built atop a portal to R'lyeh, and company executives have been making sacrifices to Cthulhu all this time.
--
Kara B.
#218
Posted 21 March 2018 - 11:29 AM
They learned Pier One's ancient dark secret: the company's longevity despite the fading fashions of wicker furniture is because Pier One Place is built atop a portal to R'lyeh, and company executives have been making sacrifices to Cthulhu all this time.
Ah, ok. That makes sense.
#219
Posted 27 March 2018 - 11:43 AM
I wonder why Hines is selling. They sold off the 3 acres for the apartment project, rebuilt the visitor parking, got the building 100% leased and now are leaving? What's up with that?
As you are basically stating, they monetized what they could. Now it's time to sell at a full price.
#220
Posted 16 August 2018 - 11:24 AM
Purchased by Hertz Investment
https://www.dallasne...worth-high-rise
The article has some encouraging words on the future of Fort Worth.
- renamerusk likes this
#222
Posted 19 September 2018 - 12:35 PM
What this so clearly demonstrates are two things: that small businesses are looking to office in Downtown; and that their preferred space is in Class A office space over Class B early 20th Century revamped space.
23K Class Space absorbed!
A speculative tower 500-800k lease space could be a good venture in Downtown.
#223
Posted 19 September 2018 - 01:12 PM
I have heard that banks will not lend money on a project like this without a substantial amount of pre-leasing.
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#224
Posted 19 September 2018 - 01:17 PM
New tenant
http://www.fortworth...60a4ce8e8f.html
A corporation moving its HQ to Downtown FW!
Hallelujah!
More please.
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#225
Posted 19 September 2018 - 01:29 PM
Just for refernce, I believe most floors of pier one are 26k sqft, with the smaller upper floors running 22-24k. So this move is about an entire floor.
- renamerusk likes this
#226
Posted 19 September 2018 - 05:48 PM
I have heard that banks will not lend money on a project like this without a substantial amount of pre-leasing.
That qualification does not seem to be universal. It can be a two drivers working at the same time: Lenders and Government.
Some cities have decided that attracting office workers in the downtown is a great enough benefit to the local economy that incentives are offered. Fort Worth may be the only city that depends entirely on "market forces" for office development in Downtown; but the cynic in me think that it are other forces at play suppressing an otherwise healthy Downtown market.
https://www.charlott...le35231499.html
#227
Posted 19 September 2018 - 11:00 PM
New tenant
I'm amused that a rural barn-building company is moving into a shiny corporate high-rise.
-Dylan
#228
Posted 20 September 2018 - 11:23 AM
I'm amused that a rural barn-building company is moving into a shiny corporate high-rise.
Several factors may have played a role in their decision among them are -
The image of being in a "shiny high rise" has value
Being close to the Stockyards with its rural/agricultural market
Easy access to DFW via Tarrant Express Rail
#229
Posted 19 December 2018 - 05:05 PM
#230
Posted 19 December 2018 - 05:12 PM
#231
Posted 19 December 2018 - 07:55 PM
A year or two ago, Pier 1 Imports was making a comeback (at least that's what I read on the internet).
Guess that's not the case.
-Dylan
#232
Posted 19 December 2018 - 08:57 PM
#234
Posted 06 January 2020 - 07:28 PM
Sounds like Pier 1 Imports is falling down the same path RadioShack did.
Almost time to say goodbye to another Fort Worth-based company...
-Dylan
#235
Posted 08 January 2020 - 07:18 AM
I had no idea they've drafted a bankruptcy plan. Anyone know how many employees presently work at the headquarters? An article I read said that as of 2018 there were still 900 employees at the headquarters, but I think there were some layoffs later in 2019.
Any word if any of the Fort Worth locations are closing? I think there are only 2 left and only 1 left in Dallas. The Irving location near my job in Las Colinas put up a "Going out of Business" sign the weekend before Christmas.
#236
Posted 08 January 2020 - 12:08 PM
Who is reporting that Pier 1 has drafted a bankruptcy plan?
As of this hour, Market Watch is reporting likely bankruptcy or restructuring; honestly, I don't know the particulars of either scenario. I think it is best to wait and to see; can't we do that for now?
https://www.marketwa...kely-2020-01-07
#237
Posted 08 January 2020 - 12:37 PM
Who is reporting that Pier 1 has drafted a bankruptcy plan?
The Star-Telegram did,
More Pier 1 teetering
https://t.co/YGhnwCxXWV?amp=1
- renamerusk likes this
#238
Posted 08 January 2020 - 12:48 PM
Ok. I did not know that the S-T was reporting that Pier 1 had drafted filing for bankruptcy. Thanks.
The Fort Worth Business Press has actually kept its powder dry by reporting that it may be imminent. Being quite ignorant of Bankruptcy Law, however, I do understand that Bankruptcy consists of an array of chapters. It remains to be seen which chapter of bankruptcy that Pier 1 may or may not enter. In the end, it may turnout to be academic.
Pier 1 Tower will be fine. It is one of the best Class A office and having one of the best location in Tarrant County.
This is totally coincidental and funny but just now having contacted an attorney who did work for me in 2007, I learned that he moved his office from Arlington and now have offices in Pier 1 Tower. There you go.
#239
Posted 09 January 2020 - 11:56 AM
...It remains to be seen which chapter of bankruptcy that Pier 1 may or may not enter. In the end, it may turnout to be academic.
To put Pier 1 Imports struggle in some perspective, here is some breaking sales news regarding traditional retail and the struggles that the industry is having overall -
Fort Worth Business Press - http://www.fortworth...9ce212af1d.html
#240
Posted 09 January 2020 - 01:28 PM
Evidently 40% of it's "corporate workforce" is 300 employees.
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#241
Posted 09 January 2020 - 08:04 PM
I have deleted some posts and edited a few more to clean this thread up. I have now unlocked it. However, I do not want any more personal attacks made on other forum members, and any comments about the previous negativity will be deleted. Also, if there any personal attacks, they will be deleted.
- renamerusk likes this
#242
Posted 16 January 2020 - 12:40 PM
Here's a nice video explaining the basics of Pier 1's struggles, with some really great background.
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#243
Posted 16 January 2020 - 12:57 PM
I understand the tendency even as I disagree slightly to tie Pier One Place, the building. and Pier One, the retailer, at the hip inferring in a way that the end of Pier One could spell the end of the building as a prime Class A Office location.
At different eras in the building's history, it has been Pier 1, Chesapeake Center and now back to Pier 1. In reality, this is not uncommon in commercial real estate; and during these changes, the building has held a strong attraction for businesses hoping to be near Downtown. i know that I have been consistent in my view and have demonstrated it time and time again by referring to the most recently built tower in Downtown as 640 Taylor Street and not as Frost Tower.
I think perhaps there ought to be a new thread created to debate the pitfalls in the retailing sector of the economy.
#244
Posted 16 January 2020 - 02:09 PM
I think perhaps there ought to be a new thread created to debate the pitfalls in the retailing sector of the economy.
That's a good idea. Looks like JC Penney is about to bite the dust as well.
- renamerusk likes this
#246
Posted 17 February 2020 - 12:20 PM
#247
Posted 17 February 2020 - 01:19 PM
I understand the tendency even as I disagree slightly to tie Pier One Place, the building. and Pier One, the retailer, at the hip inferring in a way that the end of Pier One could spell the end of the building as a prime Class A Office location.
At different eras in the building's history, it has been Pier 1, Chesapeake Center and now back to Pier 1. In reality, this is not uncommon in commercial real estate; and during these changes, the building has held a strong attraction for businesses hoping to be near Downtown. i know that I have been consistent in my view and have demonstrated it time and time again by referring to the most recently built tower in Downtown as 640 Taylor Street and not as Frost Tower.
I think perhaps there ought to be a new thread created to debate the pitfalls in the retailing sector of the economy.
Pier One Place is Fort Worth's "showiest" office building. I have little doubt that any vacant space here will quickly fill up. It's probably the only office building in town that could attract a corporate relocation just because of the beauty and easy recognition of the building.
I was watching a business analyst on tv a few months ago discussing the decline of brick and mortar retail. He pointed out that new shopping centers that used to be full of retail stores are now full of restaurants (which I've definitely noticed). He then went on to predict that the restaurant industry's bubble is going to burst hard in the next ten years or so, quicker if we have another major recession. I wonder what will happen to all that retail space if investors bail on the restaurant industry and retail stores continue to decline.
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#248
Posted 17 February 2020 - 03:28 PM
Pier 1 files for bankruptcy, https://www.cbsnews....tential-buyers/
as we now work to unlock additional value for our stakeholders through a sale
That sounds a lot like selling it to an equity firm that will squeeze the last bit of cash out of it before selling the name off to a competitor. I think this ends similar to Radio Shack.
#249
Posted 17 February 2020 - 04:38 PM
I agree with you Doohickie.
#250
Posted 17 February 2020 - 07:51 PM
And so another Fort Worth company enters bankruptcy. The Radio Shack comparison has me concerned.
I'm also concerned about the future of brick-and-mortar retail here. If (or when?) that restaurant bubble pops, shopping centers in general are going to get hit hard. We will see a glut of retail space with no one to occupy that space, and a lot of abandoned shopping centers.
Sydney B. Claridge
Proud Horned Frog (TCU Class of 2017) and lifelong Fort Worth resident with a hobby interest in urban planning and design.
Please consider following my Instagram page! I take a lot of pictures of scenery and urban environments, in addition to my interests in fashion.
Also tagged with one or more of these keywords: Downtown, Upper West Side, Chesapeake Energy, Pier One, Modern Architecture
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