SPARTANBURG, S.C. — About 48,000 square feet of move-in-ready office space has hit the market in downtown Spartanburg’s tallest building after Denny’s pulled back from five floors of its global headquarters tower, according to The Post and Courier.
The 16-story, roughly 180,000-square-foot tower at 203 E. Main St. sits on the western end of downtown. Colliers is listing the mezzanine and the fourth through seventh floors, with full floors offering about 10,500 square feet each and the mezzanine about 7,000 square feet, the newspaper reported. A Colliers listing on CommercialSearch, updated Oct. 30, puts the total rentable space at 48,229 square feet, divisible from 7,537 square feet up to the full block, available immediately. Brokers Greyson Furnas and John Montgomery of Colliers are handling the assignment, and the listing asks prospective tenants to contact the firm for pricing.
The suites are fully built out, a selling point for users looking to avoid lengthy construction timelines. According to the listing, tenants would get secured building access with on-site security, use of a lobby restaurant and shared access to the building’s top-floor atrium. Parking is available through the city in nearby decks, including the 750-space Kennedy Street Garage and the 650-space Dunbar Street Garage. The Post and Courier noted that the lobby Denny’s restaurant is private and not open to the public.
A Denny’s spokesperson confirmed the company used the floors until recently. Spokesperson Colton Grace told the newspaper the company regularly reviews its Support Center to make sure the space is “properly utilized,” and said the move was meant to bring teams closer together and cut unused space. The tower already houses at least one outside tenant: United Way of the Piedmont is headquartered on the third floor, and The Post and Courier reported this is not the first time Denny’s has opened floors to other occupants.
The consolidation follows a change in ownership. Denny’s, which moved its headquarters from Irvine, Calif., to Spartanburg in 1991, was publicly traded from 1968 until January, when TriArtisan Capital Advisors, Treville Capital Group and Yadav Enterprises acquired Denny’s Corp. for $620 million, according to the newspaper. Yadav, one of Denny’s largest franchisees, operates about 550 restaurants and also owns Taco Cabana and Nick the Greek.
For brokers and investors, the listing adds a rare block of contiguous, finished Class A-style space to downtown Spartanburg’s office inventory, with options for tenants ranging from a single small suite to a multi-floor footprint. How quickly the floors lease will be an early read on demand for large-format downtown office space in the Spartanburg market as corporate users across the country continue to right-size their footprints.
Sources: The Post and Courier, CommercialSearch (Colliers listing)
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