Wednesday, May 05, 2010
Mid-Century Modern Office Space Available
This renewed interest in mid-century modern buildings makes it all the more disappointing to see the sleek, 1959-vintage office building at 505 Washington continue to sit vacant.
Situated on the periphery of downtown, overshadowed by larger, newer office buildings nearby, as well as its next-door neighbor, the ornate and historic 555 Washington, 505 can be easy to overlook at just three stories and 75,800 sf.
While 505's space is dividable, this building would make a fantastic headquarters for a medium-sized single user. Certainly, an architecture firm, ad agency or design firm would be a logical fit, but it might be even more impressive for a "traditional" business with the capacity for unconventional thinking.
It's not hard to picture a law firm, money manager, or boutique investment banking firm located here (how about Stern Brothers?). Add signage that's compatible with the building's style - how about some stainless steel lettering above the front entrance? - and some colorful plantings to soften the facade a bit, and 505 would be an absolute knockout.
Did I mention that space at 505 Washington leases for just $13-$16 psf? That is a ridiculous value.
Is there any firm out there willing to step up to the plate and lease this cool little building?
Andrew Bagy of Grubb & Ellis Gundaker is the listing agent - (314) 719-2041.