A former Scott’s Addition manufacturing facility’s transformation to modern office space continues, with two local tech firms and a third mystery tenant signing on.
The Spur, a redevelopment of the old Phipps and Bird property at 1519 Summit Ave. and 3015 Moore St., has added WealthForge and Daybreak IT Solutions as its latest tenants.
The deals were confirmed by Jason Guillot, who’s redeveloping the 35,000-square-foot property with partner Justin Paley. WealthForge and Daybreak are leasing 8,300 and 1,800 square feet respectively.
Guillot said a third lease also recently was finalized, but the tenant has asked to remain anonymous.
Following the deals, The Spur has only one 4,400-square-foot space remaining.
The development initially was envisioned as more of a mixed-use project, but all the confirmed leases have been office tenants, including law firm Roth Jackson, construction company Whiting-Turner and private equity firm Blue Heron Capital.
“Our original vision was this was supposed to be a mixed-use project with a brewery or a restaurant or something else. But sometimes your original vision doesn’t pan out,” Guillot said.
“The interest and demand from office tenants far outweighed restaurants and retail and breweries. … I think part of it has to do with location, Moore is a one-way street and retailers and restaurants don’t prefer to be on one-way streets. So that probably counted against us a little bit, but it turned out this was a very good office location and we’re OK with that.”
WealthForge is an online broker-dealer that connects investors with entrepreneurs for capital raises. The company, founded in 2009, is currently based at One Paragon Place, an office building near the intersection of Glenside Drive and Bethlehem Road.
While WealthForge is moving from the West End to Scott’s Addition, Daybreak is moving just around the corner.
The IT staffing company is currently based at 2930 W. Broad St. Prior to moving to West Broad in 2016, Daybreak had been near Libbie and Grove.
Sonny Gupta, a partner at Daybreak, said the firm’s latest move was fueled by a doubling of its staff to eight.
“We’ve outgrown our space. We were on Libbie and Grove and knew we wanted to be in Scott’s Addition, so maybe we jumped on it prematurely since we’re going through this process again,” Gupta said, laughing.
WealthForge representatives could not be reached for comment by press time.
The Spur has been opening in phases. Whiting-Turner moved in in late February, and Roth Jackson and Blue Heron should be in by late June. WealthForge and Daybreak are aiming to move in during late summer.