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Bill Goodwin’s firm to get a new downtown view

Burl Rolett July 8, 2014 0

Gateway Plaza already has two large tenants. Photos by Burl Rolett.

CCA Industries will join McGuireWoods in Gateway Plaza. Photos by Burl Rolett.

Downtown’s newest high-rise has nabbed its second tenant.

Bill Goodwin’s CCA Industries will lease about 25,000 square feet at Gateway Plaza, an 18-story office tower rising at Eighth and Cary streets, said Larry Chapman, a principal with the building’s developer Clayco.

The deal was finalized a couple months ago, Chapman said, before Clayco began heavily marketing Gateway Plaza.

“When you build a building like this, you never really spend a lot of time pushing the marketing efforts until you get to a point people can walk in and look around,” Chapman said. “But every now and then you get someone who can really see how it will work like CCA Industries does – they’re a very sophisticated company.”

CCA will lease one entire floor at Gateway Plaza. It will join law firm McGuireWoods, which is anchoring Gateway Plaza with its 205,000 square foot lease.

CCA and McGuireWoods will vacate their current homes across Ninth Street at One James Center. Jay Jones of CCA Industries declined to comment on the move over to Gateway Plaza. Goodwin could not be reached for comment Tuesday afternoon.

Goodwin’s firm is a holding company with a portfolio that includes the Jefferson Hotel and a handful of other resorts. Goodwin, who sold AMF Bowling nearly 20 years ago for more than $1 billion, also owns real estate development company the Riverstone Group.

The addition of CCA leaves about 64,000 square feet to fill in Gateway Plaza’s seventh, eighth and ninth floors. Chapman said office space at Gateway Plaza rents between $25 and $28 per square foot. The building also has 14,000 square feet of ground floor retail space to fill, which Chapman said will rent for $30 per square foot.

Clayco broke ground on Gateway Plaza last September. The Chicago-based developer originally planned to build a 15-story office building, but the project got three stories and about $14 million more expensive just before construction began last fall.

In total, Gateway Plaza will cost about $124 million to build.

An affiliate of New York-based Lexington Realty Trust is financing the construction and is under contract to buy Gateway Plaza from Clayco upon the building’s completion.

Currently a skeleton of steel beams, Gateway Plaza will begin looking like an office building this summer. Chapman said its glass curtain walls should start showing up by the end of this month.

Clayco plans to finish the building by next summer, and McGuireWoods is scheduled to move in August 2015.

 

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