Three acres next to the Pier 1 Imports building west of downtown Fort Worth have been put up for sale.
Marketing the property for Houston-based Hines, a privately held real estate firm that owns the land next to the former Chesapeake Energy building, is Transwestern.
Rather than listing the property on its website, Transwestern is choosing from a select list of potential buyers and soliciting offers.
“Hines wants to be very careful that they get the right product there,” said Jack Huff with Transwestern, whose firm has discussed the marketing strategy for about a month.
“We made contact with all potential developers on Wednesday [April 8],” Huff said of those interesting in purchasing the property.
The land is zoned for multiple uses, including office, multifamily and hotel, and whatever building is constructed must be compatible with the Pier 1 Imports building, Huff said.
“It probably wouldn’t be office, because that would be a competing product [to the Pier 1 Imports building],” Huff said.