We’ve been watching the slow development of The Cigar Factory building in downtown Charleston on East Bay Street for years. The huge, historic building has had many plans made and many plans fall through. Fortunately, the current owners are going to make it through the struggles that the past owners faced with high end tenants expected to move in this summer! We’re very excited to see the finished building and have more options for restaurants and office space in that part of Downtown.
The Cigar Factory History
The historic, long-empty structure is one of the more recognizable buildings in downtown Charleston. It started off it’s long life in 1881 as a cotton mill, but was turned into a cigar factory after it was purchased by the American Tobacco Company in the early 1900s. Since the 1970s, the building was redeveloped to be an office building, then fell empty with lots of stops-and-starts with other developers. Last year, the Cigar Factory was purchased by the Cigar Factory Development LLC for $24.18 million.
The Cigar Factory Moving Forward
The Cigar Factory Development LLC has come into the picture at a great time. We’re finally coming out of an economic downturn and options for space downtown is limited and much sought-after. The continued development of the building will result in high end mixed-use space, including event space, retail stores, office space, and restaurants. According to plans, there will not be residential space, which was originally planned with the previous developers. According to their website the Cigar Factory renovation is fully underway:
“The work that has been done to date is of high quality and includes a near complete shell renovation, substantial site and utility work, a full overhaul of the structural components of the building, and environmental remediation. The new plan is to finish rehabilitating the building into an authentic mixed used property of office and retail space.” – The Cigar Factory Official Website
We’re watching the news outlets closely for updates on potential merchant or restaurant tenants, but we’re very hopeful for high-end, high-quality occupants to liven up East Bay Street. Sources have stated that tenants are expected to be able to move in in Summer 2015. Announced pre-leased tenants include:
- Garden & Gun
- The Indigo Road Restaurant Group (with bar, cafe, and bocce ball court!),
- Exceed Physical Culture New York Boutique Gym
- Fritz Porter – Interior Design
- EnviroMix Inc. – Energy Conservation Tech Firm
- and more
Downtown Charleston Real Estate
Want to get in on the action? The agents at The Block Charleston can help you find residential or retail space in the highly sought after downtown areas. With our extensive knowledge of Charleston communities and evolving neighborhoods, we can help you find your best options.
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