April 1st, 2004
BY HAWES SPENCER COPY@READTHEHOOK.COM
Less than a year after SNL Financial left its towering headquarters on the Downtown Mall, rock promoter Coran Capshaw has placed the structure under contract.
"We found it an attractive building," says Capshaw. "It has the potential to have a nice office and retail mix."
Capshaw says he hopes to create more room for shops on the building's Mall front and on its side at Fourth Street NW, which faces a vibrant row of small shops and galleries.
"It's cool-- I'm excited," says Andreas Gaynor, the owner of the lone business in the 42,000 square-foot structure, a coffee shop called City Centro. "We've had so many people come in and ask," says Gaynor, "I almost feel like I have a real estate license."
The broker for the deal was Bob Kahn, who listed the building late last fall for $3.75 million. The sales price is $2.9 million, according to Reid Nagle, SNL's chairman and founder.