Signals indicate RadioShack will remain in Fort Worth

BY ALESHIA HOWE
The Fort Worth Business Press
March 12, 2010

The tide looks to be turning for RadioShack Corp. to retain its corporate headquarters in Fort Worth after just last fall reportedly shopping the country for a new corporate headquarters location.

RadioShack extended its lease at its current location within The Tarrant County College District’s Trinity River campus, allowing the electronics retailer to remain in the space until June 30, 2016.

The lease extension, however, is contingent upon RadioShack receiving unspecified tax incentives with from the City of Fort Worth and the Tarrant County Commissioners Court.

“This amended lease agreement is a significant step toward a final decision on our headquarters location,” said James F. Gooch, executive vice president and CFO for RadioShack in an announcement of the lease. “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.”

According to the lease extension, terms call for RadioShack to pay TCCD 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.

Rumors flew nationwide in November 2009 that RadioShack was in the hunt for a new headquarters’ location. Though the Fort Worth electronics company issued a statement to the Fort Worth Business Press saying it does not comment on rumors or speculation other than to say no changes have been made to its lease, which runs through 2011, the buzz among Fort Worth dealmakers was that the search was on.

David Berzina, executive vice president of economic development for the Fort Worth Chamber of Commerce, said Fort Worth competed with five top-tier communities for RadioShack’s headquarters including Irving; Tampa, Fla., Albuquerque, NM, Raleigh, NC, and Nashville, Tenn. more here.