{"id":1004102291,"date":"2014-08-14T10:16:44","date_gmt":"2014-08-14T18:16:44","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=284486"},"modified":"2022-12-08T22:37:32","modified_gmt":"2022-12-09T06:37:32","slug":"hines-acquires-chesapeake-plaza-in-fort-worth","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hines-acquires-chesapeake-plaza-in-fort-worth\/","title":{"rendered":"Hines Acquires Chesapeake Plaza in Fort Worth"},"content":{"rendered":"

By Liviu Oltean, Associate Editor<\/p>\n

Hines entered the Fort Worth market with the acquisition of Chesapeake Plaza, a 409,977-square-foot, 20-story, Class A office building. \u00a0The financial terms of the transaction were not disclosed.<\/p>\n

\"\"<\/a><\/p>\n

Chesapeake Plaza is Renamed as Pier 1 Imports Building<\/p>\n<\/div>\n

\u201cI\u2019m very pleased to add this iconic building to the investment portfolio of Hines US Office Valued Added Venture III,\u201d said David Congdon, senior managing director for the company. \u201cWe are bullish on Fort Worth\u2019s steadily growing economy and believe Hines\u2019 management team will add considerable value to this investment and Pier 1 Imports\u2019 occupancy. And in recognition of Pier 1 Imports\u2019 long term commitment, we are very pleased to announce the building will now be known as Pier 1 Imports Building.\u201d<\/p>\n

The asset was developed in 2004 to serve as the headquarters for Pier 1 Imports, which sold the office tower to Chesapeake Energy Corp. in March 2008. Designed by Duda\/Paine Architects, Chesapeake Plaza is considered to be one of Fort Worth\u2019s top-tier office properties due to its high quality standards and location \u2013 it has been developed on 14 acres of land along the Trinity River in Fort Worth\u2019s CBD and is in the vicinity of the hotels and restaurants of Sundance Square and the retail and residential units of the West 7th District.<\/p>\n

The officer tower will continue to be Pier 1 Imports\u2019 headquarters; the company is currently leasing 313,000 square feet of office space there.<\/p>\n

\u201cWe are delighted about this new affiliation with Hines and look forward to a long partnership,\u201d said Alex Smith, president & CEO of Pier 1 Imports. \u201cPier 1 Imports has been associated with Fort Worth for more than 50 years, and our associates are committed to our community. We are pleased that this deal helps to ensure our well-beloved company will remain in Fort Worth for many years to come.\u201d<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Hines announced that it recently entered the Fort Worth Market with the acquisition of Chesapeake Plaza, a 409,977-square-foot, 20-story, Class A office building. The financial terms of the transaction were not disclosed.<\/p>\n","protected":false},"author":1158,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21742],"tags":[687,1815],"class_list":["post-1004102291","post","type-post","status-publish","format-standard","hentry","category-dallas","category-latest","tag-features","tag-national"],"acf":[],"yoast_head":"\nHines Acquires Chesapeake Plaza in Fort Worth - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/hines-acquires-chesapeake-plaza-in-fort-worth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hines Acquires Chesapeake Plaza in Fort Worth\" \/>\n<meta property=\"og:description\" content=\"Hines announced that it recently entered the Fort Worth Market with the acquisition of Chesapeake Plaza, a 409,977-square-foot, 20-story, Class A office building. 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