by Max Marbut
Staff Writer
Every day the new County Courthouse draws a little closer to completion. That means every day, an expected migration of business from east of Main Street to west of Main Street also draws closer.
The owners of 121 Atlantic Place at 121 W. Forsyth St. completed a $1.2 million renovation of the former Atlantic National Bank Building in anticipation of that migration.
Bob Retherford, senior director of Office Brokerage Services for Cushman & Wakefield, said the renovation has created interest in the building from a certain group of potential tenants.
“We know this is a great location for law firms and legal-related businesses like court reporters and title companies,” he said. “We’re in negotiations with several serious prospective tenants. Firms want to be in this part of the Downtown neighborhood.”
In addition to improvements in floor and wall coverings, the structure has been brought up to building code standards as well as ADA requirements. The tunnel connecting the building with the BB&T Building across Forsyth Street also has been renovated.
Retherford said the address has advantages beyond its proximity to the County Courthouse under construction a short walk away. The building is almost 100 years old and has retained the character and tradition of that era of architecture, plus a couple of features you don’t find in most new office buildings.
Those features are a pair of vaults below street level. One has been redecorated to accommodate an office, or more likely secure storage space for a tenant. The other is in a yet-to-be-renovated section of the basement and it’s where you’ll find the Atlantic National Bank’s original vault with its old-fashioned copper-clad door and gate.
“They just don’t build things like this any more,” said Retherford.
He admitted that in terms of office occupancy rates Downtown, “the stats are still going the wrong way” but he said there are improvements.
Retherford described the rental rates per square foot as “on par with suburban space” and said there’s an opportunity to bring companies Downtown from the suburbs.
“People wouldn’t spend $1.2 million to renovate a building otherwise,” he added.
The second and third floors are connected by a staircase in this atrium.
A skylight provides a view of the skyline in Downtown’s financial district.
This door leads to a vault available for office space or storage.
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