A little over six months ago, SCR Investments took over ownership of One City Centre after Pyramid Construction started missing its loan payments on the building.
SCR is led by Stacy Hastie, who is also chairman and chief executive of Environmental Operations Inc. Environmental Operations was one of Pyramid's creditors, loaning the developer more than $7 million.
When SCR took ownership of the property, they stated plans to immediately invest an undisclosed amount of money to "update and enhance the facility and attract new tenants." SCR hired Matt O'Leary from Pyramid to handle the development.
Several tenants have left the building in recent months. A-B moved to Sunset Hills and is currently sub-leasing the space it leased there, so their space would be vacant now anyway. Cannon moved its offices to the historic power house it renovated in the Cupples Station area. Losing those tenants brought the building's vacancy rate to 65 percent. Then, Herzog Crebs signed a lease at the Bank of America Tower, bringing the vacancy rate further down.
To my knowledge, no work has been performed on the building, but I hope SCR can get its plans moving forward and attract some new tenants.