Stream Realty Partners
A rendering of the makeover of Dickies' future home.
Dickies — then Williamson & Dickie — constructed its new three-story factory south of downtown in 1924 for $85,000.
That’s roughly $1.5 million today.
The company will invest $4.5 million to renovate the 84,000-square-foot six-floor, mixed-use complex adjacent to the Tower condominium high-rise at 500 Taylor Street to use as its world headquarters.
The news had been reported widely in recent weeks and announced officially on Tuesday.
SADA Capital Partners, an Illinois-based capital and asset management company, and SADA Tower LLC, a Texas limited liability partnership, have owned the Tower and Tower Annex since June, its first purchases in Texas.
“Dickies has been a household name in Fort Worth for a very long time, amplified by the opening of its namesake multipurpose arena a few years ago,” said Shaukat S. Chaudhry, CEO and managing director of SADA Capital Partners. “We cannot wait to finish our improvements to serve their employees and bring new destination restaurant and retail establishments to the area.”
Stream Realty Partners, a national real estate services, development, and investment firm, represented the landlord and Dickies in the transaction. Stream Executive Vice President Chris Doggett and Senior Associate Cullen Donohue represented the landlord; Vice Chairman Randy Cooper in the transaction. Stream Vice Chairman Randy Cooper and Vice President Wills Bauer represented Dickies.
Dickies has called Fort Worth its home since 1922 when C.N. Williamson, E.E. Dickie, and C.D. Williamson took over the U.S. Overall Company.
North Carolina-based VP Corp, an apparel manufacturer, which also owns Vans, North Face and Timberland, paid $820 million for the company in 2017.
Dickies’ new headquarters will include space for office personnel, research, and design. The Tower development offers office and retail space with a 295-unit high-end condominium development directly above. Both properties were built in 1972 and redeveloped in 2005 after a tornado struck Downtown Fort Worth. The properties feature on-site property management and six restaurants.
Dickies is the largest new tenant signed in downtown Fort Worth since Oncor relocated to 777 Main St. in 2020, according to Stream. The company’s lease will absorb the third-largest contiguous block of available office space in the downtown submarket, which has witnessed a host of activity, including the momentous announcement that Texas A&M announce plans to expand its current campus to 675,000 square feet, and Apex Financial relocating its headquarters to 60,000 square feet in the Bank of America Tower.
“Dickies commitment to downtown Fort Worth as the location of their new corporate home is a wonderful boost for the central business district,” Doggett said. “We are beyond thrilled to have the opportunity to work with their entire team and thankful that they chose 500 Taylor to further plant their flag in our great city.”
SADA Capital Partners plans to upgrade the building’s facade and add new finishes and lighting along 4th Street as it seeks new retail tenants in 2023.
“We look forward to being a part of Fort Worth’s growing economy,” said Hammad Ahmed, senior vice president of SADA Capital Partners.
Mark Dabney of BOKA Powell is leading design on the project’s exterior improvements.
“We look forward to investing more in office and retail value-add projects within the state,” said Saad Sindhu, vice president of SADA Capital Partners and head of Texas region acquisitions. He will oversee the Tower project.