Tuesday, April 1, 2008
Fort Worth-based Pier 1 Imports sells its corporate headquarters
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FORT WORTH — Pier 1 Imports, Inc. announced today that it has entered into an agreement to sell its corporate headquarters facility located in Fort Worth, Texas to a subsidiary of Chesapeake Energy Corporation.
Photo not provided by Pier 1 Imports
With some cement candles and a tasteful rug, Pier 1's new HQ, pictured, should be just as good
Alex Smith, President and Chief Executive Officer, commented, “We have spent the past year evaluating options concerning our headquarters. We had three goals in mind: recouping our investment, minimizing on-going costs, and finding a quality business partner for a leasing relationship. The deal that we have structured with Chesapeake accomplishes all three goals. We are proud to be partnered with a leader in the natural gas industry as well as a leader in the Fort Worth community.”
The company has maintained its headquarters in the building since completion of construction in 2004. The company plans to continue to occupy approximately 250,000 square feet and expects to enter into a seven year lease agreement at closing.
Pier 1 Imports, Inc. is North America’s largest specialty retailer of imported decorative home furnishings and gifts.
Source: Pier 1 Imports
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