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Springfield developer Craig Wagoner has selected Wilhoit Properties to market the commercial portion of the building.
Springfield developer Craig Wagoner has selected Wilhoit Properties to market the commercial portion of the building.

Yellow Bonnet building space available for lease

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Springfield developer Craig Wagoner is wrapping up renovations of the former Springfield Grocers Co. warehouse, known for its painted Yellow Bonnet logo facing downtown, and he has selected Wilhoit Properties to market the commercial portion of the building.

Wagoner, who has owned the 323 N. Patton Ave. building since 2010 under the banner of Yellow Bonnet LLC, has spent the last six months renovating it to the tune of roughly $1.5 million. The building is designed with office, retail and residential spaces.

"Except for the brick walls and the roof, everything's going to be new," he said.

The building, which also formerly was home to Jordan Creek nightclub, has been listed on the National Register of Historic Places, allowing Wagoner to take advantage of both federal and state tax credits.

Deb Scott, a commercial real estate agent with Wilhoit Properties who is brokering the lease of the commercial side of the property, said 15,600 square feet is available for office or retail clients.

The space, which comprises the first and second floors, is listed for $6 to $10 per square foot. The two floors also can be split up. The first floor, 7,300 square feet that faces Brick City, is available for $6 per square foot, and the second floor, made up of 8,300 square feet and facing south, is up for lease for $10 per square foot, according to Scott's listing.

Scott said the landlord is willing to perform the white-box improvements for the space, such as electrical lighting and bathrooms, and the tenant would likely be responsible for other expenses, such as design elements.

She said if an agreement was in place, the spaces could be ready within 60 to 90 days.

Scott said she has had interest from a national engineering firm, which hasn't committed to a lease agreement. While she believes the space could be attractive to any business sector, she said it would be a good fit for a technology-based firm.

"It lends itself to an open concept," Scott said, noting the loft-style appearance. "It has a lot of integrity and character."

Wagoner, via Brentwood Management, is handling the residential leases for the property. Two one-bedroom lofts, both of which are about 1,100 square feet, will become available in the summer for $800 per month, he said.[[In-content Ad]]

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