A financial services firm is the latest company to join the growing tenant roster of one of Fort Worth's most anticipated new projects, bringing destination-style office space to the growing city in North Texas.
Pittsburgh-based PNC Bank has signed a lease for about 15,000 square feet of office space at Crescent Real Estate's mixed-use development at 3230 Camp Bowie Blvd. in Fort Worth that is expected to be completed by year's end. The financial services firm will join Goff Capital, an affiliate of Fort Worth-based Crescent Real Estate, which is the developer of the Fort Worth project, and a growing roster of other tenants at the property.
PNC plans to spend at least $1.8 million on the finish-out of its office space at the Fort Worth development, according to a state permit. The bank's corporate, commercial and private teams are expected to move into the space in early 2024.
The new office space is expected to help PNC grow its business in the Dallas-Fort Worth region, said Dale Klose, PNC territory executive of the southwest and mountain region, in a statement. Recently, PNC expanded its footprint at The Crescent in Uptown Dallas to help support its growing business. Crescent Real Estate owns both properties.
John Goff, chairman of Crescent Real Estate, said that the real estate firm has created "a vibrant mixed-use development" to attract a high-quality national bank like PNC. Crescent Real Estate's project in Fort Worth has been one that Goff has taken a hands-on approach with it being home to his family of companies in its hometown, he told CoStar News.
Goff's own family of companies, Goff Capital, plans to spend $15 million on its nearly 25,000-square-foot office at the property, with construction beginning this month, according to another state permit. Construction is scheduled for completion in February. GFF is the project architect.
Other tenants at the property with work underway on various offices and spaces in the building include Pegasus Resources, Pheasant Energy, Contango, Royal Bank of Canada, Raymond James, Satori Capital and Duro Restaurant. In all, the tenants have leased more than 100,000 square feet of space in the building, according to the work permits.
Fort Worth has been growing, with the city adding the most residents in the nation between 2021 and 2022 out of cities with a population of at least 50,000. Fort Worth added 19,170 residents during that time to reach a total population of 956,709, making it the 13th most-populated city in the United States, according to U.S. Census Bureau data. Fort Worth is part of the Dallas-Fort Worth region, the fourth-largest metropolitan area in the U.S., with more than 7.9 million residents.