Construction to Begin on Wachovia Headquarters Renovation
February 25, 2009
COLUMBIA, SC – February 24, 2009 – Colliers Keenan Inc announced today the start of renovations on 1441 Main Street, a 267,549-square-foot, Class A office tower at the corner of Main and Hampton Streets.
The public areas of the building and street-level façade will undergo significant improvements in anticipation of Wachovia Bank’s relocation of its Midlands headquarters to 1441 Main later this year.
The lobby of 1441 Main will be updated to incorporate modern finishes which complement existing schemes and introduce a new palette of color. Planned renovations of the lobby include relocating the entrances of the building to enlarge areas of circulation. The enlarged area will be further enhanced by the creation of a two-story atrium space at the Main Street elevation. Exterior walls of the lobby will be replaced with full-height glass, and the entrances will feature cantilevered glass canopies. The entrances will open to newly finished plazas at the front and rear entrances, inviting the Main Street public into the vibrant common spaces of the building.
Pictures from left to right: Leo Daley, Vice President of Franklin Street Properties; David Lockwood (speaking), Senior Vice President, Colliers Keenan Inc.; Greg LaPointe, Midlands Market President, Wachovia; Ike McLeese, President of the Greater Columbia Chamber of Commerce
1441 Main Street is owned by FSP 1441 Main Street LLC, an affiliate of Franklin Street Properties Corp (AMEX: FSP). Building tenants include Scott McElveen, LLP, PriceWaterhouseCoopers, Wellington Advisors, the Office of the United States Attorney and Total Carolina Care Inc. “It is our intention that 1441 Main Street will remain one of the premier office locations in Columbia. We are excited about our partnership with Wachovia, and the opportunity to reinforce our commitment to Main Street,” said Leo H. Daley, Vice President of Franklin Street Properties Corp.
“Columbia is an important market for our company and we are committed to supporting the needs of this community, said Greg Lapointe, Wachovia’s Midlands market president. “We are proud to play an active role in the ongoing renewal of the City Center. This is indeed South Carolina’s Main Street. As the largest bank in the state and in the Midlands, we are delighted to be on the corner of Hampton and Main, and we are excited to start our construction.
“This announcement substantiates Wachovia’s commitment to Main Street and City Center,” said Mayor Bob Coble. “I’ve been greatly impressed by the dedication of Franklin Street Properties and Colliers Keenan to bring tenants, employees and capital to South Carolina’s Main Street.”
In conjunction with the start of construction, Colliers Keenan Inc has launched a newly developed website, www.1441main.com, to serve as a source of information for tenants and surrounding businesses during construction. The website will feature up-to-date information on construction as well as other building activities and amenities.
Built in 1988, 1441 Main Street was acquired by FSP 1441 Main Street LLC in 2004. Colliers Keenan has conducted leasing and property management on behalf of ownership since 2006. During that time the Colliers Keenan leasing team has executed 96,231 square feet of new leases at 1441 Main.
About Franklin Street Properties Corp.
Franklin Street Properties Corp. (“FSP”), based in Wakefield, Massachusetts, is focused on achieving current income and long-term growth through investments in commercial properties. FSP operates in two business segments: real estate operations and investment banking/investment services. FSP owns an unleveraged portfolio of real estate. The majority of FSP’s property portfolio is suburban office buildings, with select investments in certain central business district properties. FSP’s subsidiary, FSP Investments LLC (member, FINRA and SIPC), is a real estate investment banking firm and a registered broker/dealer. FSP is a Maryland corporation that operates in a manner intended to qualify as a real estate investment trust (REIT) for federal income tax purposes. To learn more about FSP please visit our website at www.franklinstreetproperties.com
About Colliers Keenan
Colliers Keenan Inc. is among the oldest and largest commercial real estate firms in the Southeast. With more than 60 brokers in offices in Columbia, Charleston, and Greenville, the firm is the only commercial real estate organization with a presence in the three largest metropolitan areas in South Carolina. In addition to full-service commercial real estate services, the company offers construction project management through its affiliate, LCK Construction Services. The firm is a member/stockholder of Colliers International, one of the largest real estate organizations in the world.
