Available Sites & Buildings Build A Custom Report Recent Locations & Expansions Population/Demographic Statistics Workforce Statistics Wage Statistics Taxes & Incentives Utilities Cost of Living Leading Employers Map Center Contact the CRDA
New office park planned in the Charleston region
Jan. 24, 2006Charleston Post and Courier
By Warren Wise
Montague Oaks LLC plans to construct three two-story buildings and one three-story building on three acres in a $15 million development called Montague Oaks Office Park, said Bobby Reece, one of three principals in the company. The other partners are developer Raymond Case and attorney Blair Hahn, both of Charleston.
Phase one will consist of 25,000 square feet of office space for professional tenants in two two-story brick-and-stucco buildings that are expected to take 10 months to complete.
All four buildings will sit to the left and back of an existing two-story building where Montague Oaks LLC has its offices.
A national homebuilder has signed a letter of intent to lease the top floor of one of the first two buildings, Reece said. He declined to name the company.
No one else has signed a lease, but "there is a lot of interest," Reece said.
The second and final phase of construction will begin as soon as the first is finished, he said.
"With the amount of activity that we have had, we don't anticipate any problems starting phase two immediately after phase one is completed," Reece said.
"We picked this location primarily because it is so centrally located in the Lowcountry," he said. "A client can basically get anywhere in the Lowcountry in about 20 minutes. It's a beautiful site with 13 grand oak trees, and we managed to save all of them and develop the office park around them."
The park will share parking space with North Charleston Coliseum through an agreement with the city.
NBM Construction Co. of North Charleston is the contractor for the project.
Also being built just down the street is a 17,600-square-foot, two-story office building called Coliseum Center. Montague Capital Partners, which consists of Reece, Case and developer Michael Rose, is financing that project. Reece said it is two-thirds leased.
Construction should begin on that building in about two weeks.