RadioShack hopes to fill one of 4 Fort Worth headquarters buildings
12:00 AM CDT on Thursday, June 14, 2007 By STEVE BROWN / The Dallas Morning News firstname.lastname@example.org
A longtime Fort Worth resident who's had a run of bad times is looking to save a little money by taking in a lodger.
RadioShack Corp. has hired the Dallas office of real estate firm Jones Lang LaSalle to hunt for tenants for one of its downtown Fort Worth headquarters buildings.
The seven-story, 205,000-square-foot office building overlooks the Trinity River on the north side of downtown.
"There is nothing available in the market in this league of building � it stacks up as one of the finest corporate campuses in North Texas," said Jones Lang LaSalle managing director Frank Ricca.
RadioShack has been battling poor performance during the last year. The company has shed hundreds of workers and relocated others and has surplus space in its 2-year-old, $227 million home office complex.
The building that the consumer electronics retailer is putting on the rental market is one of four that it occupies at the downtown campus.
The office building will be marketed for both single and multiple tenants, he said.
"If we found a single occupant, it would provide them their own building and identity in the RadioShack campus," Mr. Ricca said.
RadioShack officials said they hired Jones Lang LaSalle because of the firm's experience in handling similar real estate deals.
"We are confident in their ability to find the right company to occupy this pristine office environment and complement RadioShack's continued corporate presence in downtown Fort Worth," Mark Hullinger, RadioShack's vice president of real estate and leasing, said in a news release.
With vacancy rates in downtown Fort Worth running less than 10 percent, leasing agents are betting there will be demand for the first-class office space.
"It's a good opportunity for someone who is not downtown because downtown has been so tight," Mr. Ricca said.
Along with the office space, tenants in the RadioShack building can take advantage of the corporate campus' food service operations, personal fitness facilities and conference center. The 38-acre complex includes pedestrian trails along the Trinity River.
The project also includes a prototype RadioShack store.
Mr. Ricca declined to say what kind of rent RadioShack hopes to get for its office space, only that "it will be a reasonable rent for what it is."
Looks like Day had a great many places to cut costs and increase earnings..... but the proof of the pudding will be increasing the revenues.... and that is quite another story.... without increasing revenues there can only be short term earnings growth...... no sustained revenue growth equals no sustained earnings growth equals a lower PE ratio equals Lower Stock Price...... all that is so very basic, Investing 101, accepted principle I would think the roughest beginner small time retail investor would not go near RSH at its'current price..... but when I begin to feel feel like a big ole Mushroom, I remind myself of what P.T. Barnum said about Suckers and that some apparently smart people bought a heck of a lot of Tulip Bulbs at outrageous prices...... time will tell who are the Suckers here..... it is a shame that it is a very good bet it woin't be Goldman or any other MM's.......
Oh btw...I was wondering, and hopefully one of you that are smarter than I in this arena will chime in here, but one thing no one has thrown out here or disparaged, what if Day's goal is to take this thing private!!!
There is a lot of stupid money out there... especially in Texas...! Christ, they are the epitomy of stupid money.