The tallest building in Fort Worth has a commanding position in the city's skyline, but the 1M SF building only commanded a price of about $12 per square foot at a foreclosure auction.
The price per square foot amounted to less than 10% of the previous sale price for Burnett Plaza, which at 40 stories towers over the other buildings in Fort Worth.
The winning bidder was one of Burnett Plaza's lenders: Pinnacle Bank Texas bought back the building at this month's auction with a bid of $12.3M, according to a report in the Dallas Business Journal.
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