Warren Davis Properties has leased the former Circuit City building at 3600 S. Glenstone Ave., a property that has sat vacant since Davis Properties acquired it in May 2009.
Midwest Technical Institute, a Springfield, Ill.-based vocational school providing training in mechanical trades and health care, signed a 10-year lease with an option for a 10-year extension for an undisclosed amount, said MTI CEO Brian Huff. According to its
Web site, MTI also has campuses in East Peoria, Ill., and Moline, Ill., and operates Delta Technical College in Horn Lake, Miss., and Ridgeland, Miss.
Huff said the school's sixth branch and first Missouri location would likely open by October.
Patrick Harrington of Davis Properties said work is currently under way to renovate the 40,000-square-foot property, which is expected to be completed in June. Davis Properties, which is coordinating the renovation, brought on Adam Pyle and Associates as the general contractor and Esterly, Schneider & Associates Inc. as architect. Nancy Herchenroeder of Bill Beal Co. brokered the deal for the tenant.
"That's probably the best location in Springfield, Missouri," Huff said, noting it was important for MTI that the building is standalone and is located in a high-traffic area.
Huff said the Springfield branch would provide training in welding, HVAC, medical assisting, medical coding and cosmetology, as well as programs for pharmacy technicians.
"Springfield is a great town. You've got a good population and a good economy," Huff said. "You've got a great medical community there, with all types of medical facilities and services."
Huff said the average course length for MTI's programs is nine months.
Springfield's Circuit City closed in November 2008. Harrington said it isn't surprising that the building remained vacant, but he noted it was a relief to lease the property.
"When we bought it, we knew it could easily sit six months to three years vacant before we found the right tenant," he said. "That's our business model. We buy properties that are either vacant or low vacancy and either repurpose those for a different use or make other renovations to make them more leasable."
That's not to say there hasn't been interest in the property. Thornton, Colo.-based Ultimate Electronics had scouted the location, and even went so far as to bring on a general contractor and start advertising for Springfield jobs. The company, however, filed for Chapter 11 bankruptcy protection in early 2011, and ultimately didn't sign a lease for the building.
