Dan Lovell, SIOR, LEED AP of Graham & Company represented Hand Arendall in its lease at this historic skyscraper undergoing redevelopment in downtown Mobile.
A historic skyscraper undergoing redevelopment in downtown Mobile has landed its first major commercial tenant.
Law firm Hand Arendall LLC has leased three floors in the eight-story Merchants Plaza office building, according to AL.com. Once construction is complete, Hand Arendall will relocate from its space in the neighboring RSA Tower.
As we previously reported, the former Merchants National Bank building, built in 1929, will undergo a $30 million renovation starting next year. The project includes five buildings on one whole city block squared off by St. Francis, St. Joseph, St. Michael and Royal streets. The resulting mixed-use development of 225,000 square feet will include commercial, office and residential space.
The 18-story former Merchants National Bank building will be transformed into 84 loft apartments, and a neighboring eight-story building will be renovated into 80,000 square feet of office space for 350 employees. The first floors of all the buildings will be used for commercial, retail and restaurant space.
Heritage Land and Development Inc. purchased the building earlier this year.
Construction will begin next year and last 18 to 24 months.