TCCD and RadioShack Corporation Agree to Extended Building Use Lease at Downtown Fort Worth Campus

The Tarrant County College District and RadioShack have extended their building use lease for five years, at the College's downtown Fort Worth Trinity River Campus.  The lease extension, which is contingent upon contemplated actions by the City of Fort Worth and the Tarrant County Commissioners Court, allows RadioShack continued use of the Clear Fork and West Fork Buildings through June 30, 2016.  The College District will continue to utilize approximately 529,000 square feet of the campus for educational purposes, and there will be no interruption in class scheduling or day-to-day operations for students, faculty or staff. 

"We have agreed to financial terms that work for TCC and RadioShack," said Erma Johnson Hadley, interim Chancellor at the College.  "And, while our student enrollment continues to grow, our team is confident we will not need the West Fork or Clear Fork Buildings before the end of the additional five year term set forth in the lease extension.  I am pleased we can accomplish this lease extension without any change in our daily operations or our educational mission," she said.

"We appreciate the spirit of partnership and cooperation we have been able to develop with the new senior leadership team at TCC," said James F. Gooch, executive vice president and chief financial officer for RadioShack Corp. "This amended lease agreement is a significant step toward a final decision on our headquarters location. We still need to work out some details concerning tax incentives with both the City of Fort Worth and Tarrant County.  We are in discussions with officials from both bodies and we hope to bring the process to a conclusion as quickly as possible."

Terms of the lease extension call for RadioShack to pay the College District lease rates comparable to Class A/B space for not more than 150,000 square feet and lease rates comparable to back office and shared service space for not more than 100,000 square feet.  RadioShack's option for extending the lease for the Control Center and the Data Center is unchanged.

Tarrant County College Board President Louise Appleman noted the energy of having both students and a major corporation on the same campus: "We have all marveled at the informal interaction between students and corporate leaders and the enthusiasm each has for the other.  I am pleased this is working out well for both of us and our community.  RadioShack is a good neighbor and an important part of our city's history."

TCCD, RadioShack Lease Extension Fact Sheet (PDF document will open in new window)

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