Court between Elm and Plum likely to remain surface lots

The surface lots around Court Street Center appear likely to remain as pavement for the foreseeable future.

Michele Laumer of Carey Laumer Commercial Realty, Inc. says that there has only been occasional interest in Court Street Centers II and III, which have been in pre-leasing since early 2004.

As proposed, Court Street Center II would be five stories and 100,000 square feet of Class A offices.

Court Street Center III would be the same height, with twice the floor space. A seven-story, 1,300-space parking garage would be built adjacent to it.

Despite the lukewarm reception so far, Laumer puts both buildings in the "possibilty" category.

The parking lots are owned by Chavez Properties, owner of many surface lots in the City core, including much of Broadway Commons.

Chavez doesn't have any interest in speculative development in the tight Downtown market, especially with the low-overhead income he receives from parking revenues. He would prefer to have at least 50% of either building pre-leased before starting construction.

What he does have is the resources to make either of the buildings happen if a company chooses to locate there and can abide a long enough lead time to wait until the structure is built.


Court Street Center II Rendering


Court Street Center III Rendering

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