Oct
26

Main Street Gets a Boost after Buyer Found For Palmetto Center

By
October 26, 2008

By Jeff Wilkinson – Jwilkinson@Thestate.Com

In a move that could offset the loss of 900 downtown jobs, an undisclosed firm has signed a contract to the buy the 20-story Palmetto Center building on Main Street in Columbia, the agents representing the seller confirmed.

The city of Columbia is negotiating with the potential buyer to provide additional parking for the building, Mayor Bob Coble said.

Columbia hotelier Rick Patel, at one time rumored to be a potential buyer, said Friday he is familiar with the deal but would not comment.

A new tenant for the building would offset some of the negative impact of SCANA Corp. moving its workers from the building to new corporate headquarters in Cayce. The move is scheduled to take place in 2009.

In addition to the Palmetto Center, a potential buyer also has the 25-story Capitol Center at Gervais and Assembly streets under contract. It is the state’s tallest building.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.thestate.com/business/story/567524.html
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