Another Tenant Lands at BullStreet
Originally published Oct. 14, 2015 at: http://www.thestate.com/news/business/article39244698.html
BY JEFF WILKINSON
The new BullStreet Common development has another tenant.
Commercial real estate brokers NAI Avant announced Tuesday that the historic Park Annex on the former S.C. State Hospital grounds has been leased.
The tenant, which the company did not name, plans to use the top floor of the 104-year-old building and lease the bottom floor. Efforts to reach NAI Avant senior broker Cam Kreps were unsuccessful.
The 9,300-square-foot building is located on the southeast corner of the campus, parallel to the corner of the brick wall bounded by Barnwell Street to the east and Calhoun Street to the south. It was originally constructed in order to relieve overcrowding of African-American male patients in the Parker Building, according to a study by University of South Carolina art students two years ago. The Parker Building no longer exists.
The redevelopment of the old state hospital’s 165-acre campus is considered the biggest land deal in Columbia history — one that could transform a downtown that is already in a state of incredible growth. The project is being built by Greenville developer Bob Hughes, considered the architect of that city’s downtown revival.
Hughes’ real estate brokers, Miami-based Lennar Commercial, is advertising a mixed-use development that includes 403,500 square feet of retail space, 3,500 residential units, 140 hotel rooms and 1.3 million square feet of office space.
Hughes’ team has said up to 60 tenants are set to move into the development. Parker Annex is the third announcement for the area.
The Columbia office of the Ogletree Deakins law firm was the first major tenant to put down roots at BullStreet Common, the name of the central section of the campus, which is also the site of the new $37 million, mostly taxpayer-funded minor league baseball stadium.
The law firm will occupy the top floor of the First Base Building, an office building that’s being built in concert with the 8,000-seat Spirit Communications Park, future home the Class A minor league baseball team the Columbia Fireflies.
It will lease 12,000 square feet of the four-story First Base Building’s 85,000 square feet of office space. The building is being constructed along the first base line of the $37 million ballpark. In addition to offices, the building has 25,000 square feet of retail space, enough to house two or more restaurants, Hughes said.
Another tenant, SOCO, a work-place sharing company now located in the Vista, has said it would move into the former asylum’s old bakery, which is located just outside the ballpark’s right field fence.