DALLAS--(BUSINESS WIRE)--TIER REIT, Inc. (NYSE: TIER) announced today that it has completed the sale of Centreport Office Center for approximately $12.7 million. Centreport Office Center is located in Fort Worth, Texas, and comprised of two single-story office buildings totaling approximately 133,000 square feet. The sale is the second of three properties previously announced as under contract to be sold, following the announced sale of 500 East Pratt, in Baltimore, Maryland, on February 13, 2018. The third property, Loop Central, in Houston, Texas, remains under contract and is expected to close in the first quarter of 2018.
About TIER REIT, Inc.
TIER REIT, Inc. is a publicly traded (NYSE:TIER), self-managed, Dallas-based real estate investment trust focused on owning quality, well-managed commercial office properties in dynamic markets throughout the U.S. TIER REIT’s vision is to be the premier owner and operator of best-in-class office properties in TIER1 submarkets, which are primarily higher density and amenity-rich locations within select, high-growth metropolitan areas that offer a walkable experience to various amenities. Our mission is to provide unparalleled, TIER ONE Property Services to our tenants and outsized total return through stock price appreciation and dividend growth to our stockholders.
For additional information regarding TIER REIT, please visit www.tierreit.com or call 972.483.2400.