From the Ground Up: South National Office Park

Owner/developer: Reed Properties Inc.

General contractor: Reed Properties Inc.

Architect: Derington Architects

Engineers: Olsson Associates, civil; LaRose & Schober Engineering Inc., mechanical, electrical and plumbing; and Wells & Scaletty LLC, structural.

Size: 45,000 square feet

Estimated cost: $4 million

Lender: Liberty Bank

Estimated completion date: Oct. 15

Project description: Owner and developer Bill Reed of Reed Properties Inc. is adding to his office-complex portfolio with this 30-unit, four building project. Reed also owns Primrose Square, Charleston Place and National Office Place, which is just south of the new complex. He said six tenants have preleased space in South National Office Plaza, and he expects the insurance, spa and medical fields to be represented. Units range from 450 square feet to 12,000 square feet, said Reed, who is co-leasing the space with Jerry Redfearn, a CJR Commercial Group agent. The gross lease rate is $15.50 per square foot and covers exterior maintenance, outside utilities, taxes and insurance; tenants pay inside utilities. “I’ve found that new businesses like the gross amount because they can (better) figure their budgets,” Reed said. He expects tenants to begin moving in by mid-September, and negotiations are ongoing with about a dozen possible users.

Compiled by Eric Olson. Springfield Business Journal brings you new projects each week. Send project info by fax to (417) 799-0603 or by e-mail to sbj@sbj.net. [[In-content Ad]]