Five other deals on West Walnut block

Jared is even planning to live in one of his six new buildings, boasting a combined 162,195 square feet on West Walnut and South Campbell.

“I wanted to move there because I like everything that’s going on downtown,” Jared said.

He closed June 21 on the former Salvation Army Store, 431 W. Walnut, in partnership with architecture firm Bates & Associates Inc. Jared will live in the eastern one-third of the 21,000-square-foot two-story building, while Bates will take the western one-third. A yet-to-be-determined retailer and another residential tenant will occupy the middle one-third.

The building cost the duo $450,000, and Bates owner and president Alan Bates estimates restoration will exceed $1 million. Restoration already has begun and likely will be complete in early 2006.

“We’ve basically stripped it down to concrete, brick and floor joists,” Bates said.

Jared plans to close on the other five buildings, along with a 30-space parking lot, in late September.

He is under contract to acquire 215 S. Campbell, 404, 406 and 408 W. Walnut, the adjacent parking lot and 425 W. Walnut. “I’ll own pretty darn close to a block,” Jared said.

With the exception of the former Salvation Army-owned building, Jared is buying the properties from Andrew Baird, who still owns 405 W. Walnut, Jared said.

Jared has signed Trevor Harlow to occupy 425 W. Walnut. Harlow plans to open TH Stereo Design in 5,000 square feet of space before Christmas.

Harlow, who has 15 years of experience in the stereo equipment market in Springfield, said he would sell high-end home entertainment systems, complete with pool table and bar, for under $100,000.

He said he likes the downtown location because it will get plenty of foot traffic, especially during First Friday Art Walks.

“What I’m building is just massive creativity,” he said of his plans.

While 431 and 425 W. Walnut will house new or relocated businesses, the other properties will keep the same tenants.

Rare Breed Youth Outreach Center will stay in the 4,709-square-foot space at 215 S. Campbell, design and marketing firm 3Floors Inc. and information technology company J29 Global Inc. will stay in their 34,406-square-foot location at 404 W. Walnut, Czech US Out will continue to inhabit 35,640 square feet at 406 W. Walnut and Moxie Cinema LLC, opening Sept. 21, will occupy the 61,440-square-foot 408 W. Walnut building.