Dtwn Roch. biz moving is ...?
Here's the answer to that Biz Buzz tease from a while back - C.O. Brown Agency is moving out of downtown Rochester, though not until mid-2008.
Here's an early run at this that is in today's Heard on the Street column. I did talk to Steve Seymour of S&L Services, who manages C.O. Brown current building for owner Les Nelson. He says while they are open to any tenant (of course), they belive a bank would be best fit in that building. It does still have a couple drive-up lanes.
Nelson of Clear Lake, Iowa bought the C.O. Brown building at 300 S. Broadway and the former Venture Computer Systems building at 316 S. Broadway in late 2005 for $1.6 million.
Here's what is in the dead tree edition today:
By this time next year, C.O. Brown Agency Inc. will probably no longer have a downtown Rochester address.
Developer Jeff Brown is planning a 27,000-square-foot financial center at 19th Street and West Circle Drive. C.O. Brown, currently at 300 S. Broadway, could move into about 16,000 square feet in early to late 2008, he said.
Home Federal Bank is also slated to take about 5,000 square feet of the space in the two-story center for a full service branch, said Brad Becker, senior vice president of business banking.
Home Federal will own its space, and a group of local investors led by Brown will own the C.O. Brown spot. An additional 6,000 square feet will be available for other financial services businesses, Brown said.
Why build a financial center near a movie theater and a restaurant?
“As a developer, I just thought this was the strongest remaining corner in Rochester for commercial viability,” he said.