Two businesses on Spartanburg’s east side Main Street corridor will relocate.
Lancaster-based Founders Federal Credit Union said it will move its office at 875 E. Main St. into the nearly 10,000-square-foot former BB&T Bank branch at 1461 E. Main St.
Sub Station II franchisee Kyle Shuler said he plans to purchase the building that Founders will vacate and relocate his store at 453 E. Main St. in spring 2018.
“There’s a lot of growth happening on this side of town and there’s more to come,” said Bob Atkins, Spartanburg market executive for Founders. “We want to capture some of that growth.”
Founders purchased the BB&T building in August for $580,000, according to property records.
BB&T ceased operations in the space earlier this year around the time the bank announced its plan to shutter about 100 branches due to the growth of its digital platform.
Constructed in 1977, the three-story brick building has a unique colonial look, drive through, and parking lot with about 70 spaces. It sits on almost 2.5 acres near the intersection of East Main Street and Riverview Drive, across from Eastside Animal Hospital.
Joe McCain, chief operating officer for Founders, said his company has outgrown its current 2,100-square-foot space, which it inherited in 2003 after its merger with Spartanburg Educators Federal Credit Union (SEFCU).
SEFCU constructed the building in 2002 on 1.5 acres on the border of Spartanburg’s Converse Heights neighborhood.
“We’ve really outgrown that space,” McCain said. “We’ve seen a lot of growth and there are some challenges at that location. We’re planning for the future.”
McCain said the company plans to invest several hundred thousand dollars initially to renovate the larger building’s first floor, improve landscaping, add irrigation, and complete work on the exterior.
The plans include a remodeled teller line and lobby, seven additional employee offices, and an upgraded drive through.
Landscaping and exterior improvements will be completed later this year, while interior work will begin in early 2018.
McCain said the move could result in the creation of more jobs.
He said the look of the interior will be similar to the 8,000-square-foot regional office it constructed on Spartanburg’s west side in 2016.
Founded in 1950 in Fort Mill to provide financial services to the employees of Springs Industries, Founders said it serves over 210,000 members with 30 offices and three service centers in North and South Carolina. The credit union said its assets have grown to more than $2 billion.
Shuler said that when he heard about Founders’ plan to relocate, he was already planning to move his store from the building it has occupied since 1979.
That building is part of a cluster of aging structures at the southeast corner of downtown Spartanburg’s eastern gateway that will be demolished to make way for a new mixed-use development.
Greenville-based developer Centennial American Properties plans to construct a two-story, more than 19,000-square-foot building at the southeast corner of East Main and South Pine streets.
The development will be anchored by Georgia-based United Community Bank’s Spartanburg headquarters branch, which will relocate from its existing space at 101 W. St. John St. at the Spartan Centre in downtown.
“We caught wind that that project was coming and I began looking around,” Kyle Shuler said. “When we heard [Founders’] building was going to be available, we jumped on it.”
Shuler left a job in pharmaceutical sales and moved to Spartanburg with his wife in 2008 to go into business with his father-in-law William “Smitty” Cook.
Cook owns the Sub Station II in Gaffney.
Shuler and Cook purchased the Spartanburg Sub Station II stores as equal owners, with Shuler being responsible for their operation.
“It’s a great building with good bones,” Shuler said. “It’s got a good parking lot and a teller window that we’ll use for our drive through.”
Shuler said he hopes to add about five new jobs as a result of the move. Michelle Dawkins will manage the store.
On Sept. 21, the city’s planning commission approved Shuler’s application for a conditional use permit for the portion of the 875 E. Main St. property zoned as a Limited Office District.
Shuler said he has some renovation plans for the building. He hopes to close on the deal by November.
It will be the second former bank building he has repurposed for one of his restaurants.
In 2013, he reopened his west-side store in the former First Piedmont Bank branch at 1516 John B. White Sr. Boulevard. The store moved from the building it had occupied since 1981 off East Blackstock Road near the Dorman Centre.
“We will reenergize our look as we were able to do on the west side,” Shuler said. “It will be fresh, a clean slate for us to work with.”
Guy Harris, a partner with Spartanburg-based Spencer/Hines Properties, represented Founders in the purchase of the 1461 East Main St. building. Doug Webster, a senior associate with CBRE, represented BB&T in the transaction.
Harris will represent Founders sale of the 875 E. Main St. building. Andy Hayes, who is also a partner with Spencer/Hines’ Spartanburg office, will represent Shuler.