Oct
09

Charleston’s Cigar Factory to be Redeveloped

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The Cigar Factory in downtown Charleston is under contract to be sold to a new, unnamed developer, according to the current owner.

Previous development plans to convert the building into residential and retail space have fallen through. The five-story brick building, which sits on 4.5 acres the corner of Columbus and East Bay streets, has sat vacant since 2006.

“It hasn’t been sold. … It’s under contract to be sold,” said owner and developer Boyd Simpson, declining to disclose the potential buyer.

Under new ownership, the building will be rehabbed into office and retail space, with a focus on the region’s growing creative and technical industries, according to a news release. The property will not include a residential component, as previously planned.

The transaction is expected to close in December. Renovations of the 244,000-square-foot building are expected to be complete in fall 2014.

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