Property Damage Appraisers (PDA) has signed a lease for its national headquarters at the Pier 1 Imports Building in Fort Worth, JLL announced Oct. 18.
The firm successfully secured a new 22,414-square-foot lease with PDA, which will serve as the company’s new corporate offices.
“Property Damage Appraisers is experiencing strong momentum and a record-breaking year in sales growth,” said Tom Dolfay, Property Damage Appraisers Chief Executive Officer. “Moving our headquarters into the Pier 1 Building is one of many important initiatives we have in action. With an ongoing focus on revenue growth and employee development, the move was chosen because of its prime location, professional environment and amenities for our loyal team members.”
The company was previously located at 6100 Southwest Blvd.
Hertz Investment Group’s Michael Morgan and JLL’s Pat McDowell were involved in the negotiations.
“The Pier 1 Imports Building delivers a best-in-class office experience delivering an engaging work environment with excellent accessibility and quality amenities, ideally suited for creative, cutting-edge companies,” said Morgan. “We’re excited to welcome Property Damage Appraisers to the property’s roster of industry leading employers.”
PDA first opened its doors in 1963. It is an independent damage appraisal firm. According to the company’s website, it has a national team of more than 650 local appraisers and completes over 400,000 appraisals and lease turn-in inspections a year for auto, over-the-road truck, specialty equipment, RV, boat, motorcycle and property damage.
According to JLL Research, the Fort Worth office market is seeing increased demand meeting long-standing supply.
The expanded CBD office submarket remains stable with vacancy at 15.9%, even as asking rents across both Class A and Class B spaces have continued to remain strong. Due to limited supply in the construction pipeline and recent absorption for Class A space across the market, interest and activity are likely to continue trending upward, according to JLL