Yesterday, Dallas-based PNL Cos. and RadioShack announced thesigning of a purchase option for the Charles D. Tandy Center, aThrockmorton Street landmark, and Ft. Worth Outlet Square Mall.Terms are confidential. Earlier this week, Tarrant County agreed topay $34 million for the 300,000-sf Tandy Center Technology Squarebuilding at Taylor Street and adjacent parking garage. RadioShackwill lease back the office space in the twin 20-story towers andtechnology center until the new facility is ready to occupy, atimeframe tentatively set for late 2004. According to a companypress release, RadioShack will continue to own and operate a subwaythat connects the sites.

Bob Riley, Ft. Worth's development director, tells GlobeSt.comthat the corporate giant has yet to file any project plans with hisdepartment. According to a published account, the campus will boastone million sf.

The PNL announcement comes nine months after RadioShack firstsigned papers to buy the Ripley Arnold project for $20 million fromthe Ft. Worth Housing Authority. That deal closed in November andoverrode a tenants' uproar about being forced to relocate fromtheir subsidized housing. The authority could not be reached forcomment.