At least 50 white-collar jobs are headed for downtown Spartanburg’s western end.
Greenville-based real estate firm Coldwell Banker Caine said Wednesday it will establish its new Spartanburg headquarters in the Gilbert & Son Co. building in a 7,000-square-foot space formerly occupied by The Iron Yard at 151 S. Daniel Morgan Ave.
The company said it has begun renovating the space adjacent to a vacant restaurant and several apartments, which is near the $20 million AC Hotel under construction at the corner of West Main Street and Daniel Morgan Avenue. It anticipates it will take up residence in the space by the end of the year.
“Since the evolution of our business in 2010, we have built a model of creating experiences in our spaces that reflect the unique, full-service approach that makes Caine so unique,” Stephen Edgerton, president and CEO of Coldwell Banker Caine, said in a statement. “We could not be more proud to bring that vision to Spartanburg through this building.”
Coldwell Banker Caine recently completed its new corporate headquarters at 111 Williams St. in downtown Greenville.
Company spokeswoman Kate Dabbs said the Spartanburg office will be modeled after the corporate location. It will be modern, incorporating state-of-the-art technology, industrial design notes, and other features that promote opportunities for community engagement, she said.
Dabbs said the office will include an art gallery similar to the company’s Main Street Gallery in downtown Greenville.
The gallery will showcase the work of local artists and serve as a venue for exhibitions, openings, and other events.
Coldwell Banker Caine said the exterior of the building will have a grill, patio, and a bocce court.
“We know it will be a springboard for an incredible work culture for our agents, and even more importantly, connection to the community we call home,” Edgerton added.
Founded in 1933, Coldwell Banker Caine has operations and about 200 employees that offer residential and commercial real estate services throughout the Upstate.
“The energy internally when we learned of this on Tuesday was amazing,” said Angela Halstead, vice president of sales and community relation, and co-leader of the residential team in Spartanburg along Susan Clary for Coldwell Banker Caine. “It’s fun to be able to have such a positive impact in people’s lives and make a change that everyone thinks is going to be a good thing. Change can be hard, but it’s just such a great location. Stephen is so detail-oriented. We all trust him and know this will be something special.”
Coldwell Banker Caine is one of the original anchor tenants of the 65,000-square-foot TD Bank building completed by Spartanburg-based Johnson Development Associates in 2007.
The company occupies a nearly 10,000-square-foot suite that houses about 50 employees.
Although the new office will be smaller, it will provide space for future growth that could result in additional jobs, Dabbs said.
“The model for the real estate office has changed during the past few years,” said Tim Satterfield, vice president and broker-in-charge of Coldwell Banker Commercial Caine. “Real estate agents are now on the road, in coffee shops, in people’s homes. … This new office will provide us with flexible space and more visibility. We are very excited about it.”
Financial details of the project were not disclosed.
Greg Atkins, the building’s owner, said the company has signed a long-term lease for the space.
“I think it’s going to be a great use for that building,” Atkins said. “They are a long-term resident of downtown, and I think what they are going to be doing will be excellent.”
Edgerton said his company worked directly with Atkins on the transaction. He credited Atkins as being “instrumental” in helping the company find space for the project, which has been about one year in the making.
“Greg’s commitment to downtown Spartanburg is tremendous,” Edgerton said. “It’s a win for us, a win for him, and a win for downtown.”
The Iron Yard operated a digital health accelerator, coding school, and co-working operation in the space from 2013 to 2016.
“The TD Bank building is an exceptional office building, but what makes this exciting is that you have a downtown office that has outgrown its location, is in need of a new location, and it was important for them to stay downtown,” said Will Rothschild, vice president of strategic communications for the Spartanburg Area Chamber of Commerce. “The fact that real estate professionals view downtown as a place to have their office is a pretty big statement.”
Rothschild said he believes Coldwell Banker Caine’s move will bring long-term stability to the building and energy to the western end of downtown.
“There has been so much focus on restaurant, retail, residential, and hotel development recently,” he said. “I think we are starting to see the green shoots of new office demand. The first step, of course, is to hold onto existing office users when they need new space. … Hopefully we’ll start to see more focus, energy, and development in the office sector downtown.”
Assistant City Manager Chris Story said he is happy to see growth on downtown’s western end.
“We had hopes the new hotel would invigorate certain areas in that end of downtown,” Story said. “We’re pleased to see that become a reality. We’re very happy for Coldwell Banker Caine and wish them all the best.”
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