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2015-10-28T00:00:00.000Z

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John Pavone

West Second Street Associates LLC

Direct Phone: (810) ***-****       

Email: j***@***.com

West Second Street Associates LLC

West Second Street Associates, LLC 140 East Second Street, Suite 225

Flint, Michigan 48502

United States

Company Description

West Second Street Associates (WSSA) was founded in 1993 based on the philosophy of providing quality service, with integrity and excellence, across the entire spectrum of real estate investment and development. WSSA is a national, full-service real estat... more

Find other employees at this company (11)

Background Information

Web References (4 Total References)


"The building is perfect for tenants ...

bestintarponsprings.com [cached]

"The building is perfect for tenants that have been priced out of the primary corner in Alabama, (20th Street North and Fifth Avenue North) or firms that are looking to save on their rent expense but not sacrifice location," said John Pavone, the West Second Street executive overseeing the firm's efforts to fill Regions Plaza. "We purchased the property at the right price and are well positioned to compete aggressively for tenants." Neither Regions nor West Second Street have disclosed the purchase price for the building. Pavone said most of the floors in the tower have 11,000-square-feet of space, though some floors have been divided into two 5,000-square-foot spaces. "The bank was a great caretaker of the space," Pavone said. "It was impeccably maintained and recently renovated prior to them vacating." He said the company is willing to replace paint and flooring for tenants at an added cost, but for those who want "as is" space, there are bargains. West Second Street is asking $15 to $30 per square foot in annual rents, depending on the degree of tenant improvements. "The location of the building is perfect for businesses that support the financial services industry or the court system," he said. The ground floor, which was home to a Regions Bank branch for decades, is being pitched to several banks, including some that would be new to the Birmingham market, Pavone said. "A bank branch anchoring the main floor is a obvious fit. The basement is equipped with a bank vault and secure access," he said. "We are actively courting some new names to Birmingham, potentially a bank that does not have a presence in Birmingham yet." Pavone has submitted the building to the U.S. General Services Administration, which is looking for space for several federal offices in Birmingham, including 75,000 square feet to relocate the U.S. Treasury Department from Homewood, 20,000 square feet for the U.S. Department of Labor and the Bureau of Mines to share, and 27,000 square feet for an unidentified agency. Pavone said the GSA has no firm date for deciding where the new offices will be. West Second Street has specialized in GSA projects, completing nearly two dozen of them in the past. "They typically move at their own pace and it is hard to predict their timing or next step," Pavone said. "We provided them the best offer we could and are patiently awaiting their determination. In general, government leasing is slowing down due to federal budgetary concerns." The economy already killed one deal for the building. Birmingham's Harbert Realty Services tried for more than three years to bring a $61 million, 261-room Marriott Renaissance Hotel. The economy soured and made it difficult to secure financing for the four-diamond luxury hotel. Pavone said the new $50 million Westin Hotel being built near the Birmingham-Jefferson Convention Complex will cater to convention and recreational travel and give weekend visitors a new option. He said there is still a need for the business traveler who wants to be near the law offices, government offices and banks downtown during the week. "The lower floors -- floors two through eight -- would be perfect for a boutique or upscale hotel catering to the financial/court services traveler," Pavone said. "The original plan to convert the entire building to a hotel would be overly ambitious in today's economy. But a 125-150 room hotel occupying those floors would likely be at full capacity throughout the work week." Pavone said a hotel component to Regions Plaza remains an option, but is not definitive. "No decision has been made on the hotel concept as of yet," he said.

...
John Pavone, the West Second Street broker leasing the building, would not say if any of those entities are possible tenants when interviewed by The Birmingham News in October, when the newspaper first reported West Second Street had an option to buy the building. At that time, Pavone said the company was open to leasing the space to most any office user.


"The building is perfect for tenants ...

bestintarponsprings.com [cached]

"The building is perfect for tenants that have been priced out of the primary corner in Alabama, (20th Street North and Fifth Avenue North) or firms that are looking to save on their rent expense but not sacrifice location," said John Pavone, the West Second Street executive overseeing the firm's efforts to fill Regions Plaza. "We purchased the property at the right price and are well positioned to compete aggressively for tenants." Neither Regions nor West Second Street have disclosed the purchase price for the building. Pavone said most of the floors in the tower have 11,000-square-feet of space, though some floors have been divided into two 5,000-square-foot spaces. "The bank was a great caretaker of the space," Pavone said. "It was impeccably maintained and recently renovated prior to them vacating." He said the company is willing to replace paint and flooring for tenants at an added cost, but for those who want "as is" space, there are bargains. West Second Street is asking $15 to $30 per square foot in annual rents, depending on the degree of tenant improvements. "The location of the building is perfect for businesses that support the financial services industry or the court system," he said. The ground floor, which was home to a Regions Bank branch for decades, is being pitched to several banks, including some that would be new to the Birmingham market, Pavone said. "A bank branch anchoring the main floor is a obvious fit. The basement is equipped with a bank vault and secure access," he said. "We are actively courting some new names to Birmingham, potentially a bank that does not have a presence in Birmingham yet." Pavone has submitted the building to the U.S. General Services Administration, which is looking for space for several federal offices in Birmingham, including 75,000 square feet to relocate the U.S. Treasury Department from Homewood, 20,000 square feet for the U.S. Department of Labor and the Bureau of Mines to share, and 27,000 square feet for an unidentified agency. Pavone said the GSA has no firm date for deciding where the new offices will be. West Second Street has specialized in GSA projects, completing nearly two dozen of them in the past. "They typically move at their own pace and it is hard to predict their timing or next step," Pavone said. "We provided them the best offer we could and are patiently awaiting their determination. In general, government leasing is slowing down due to federal budgetary concerns." The economy already killed one deal for the building. Birmingham's Harbert Realty Services tried for more than three years to bring a $61 million, 261-room Marriott Renaissance Hotel. The economy soured and made it difficult to secure financing for the four-diamond luxury hotel. Pavone said the new $50 million Westin Hotel being built near the Birmingham-Jefferson Convention Complex will cater to convention and recreational travel and give weekend visitors a new option. He said there is still a need for the business traveler who wants to be near the law offices, government offices and banks downtown during the week. "The lower floors -- floors two through eight -- would be perfect for a boutique or upscale hotel catering to the financial/court services traveler," Pavone said. "The original plan to convert the entire building to a hotel would be overly ambitious in today's economy. But a 125-150 room hotel occupying those floors would likely be at full capacity throughout the work week." Pavone said a hotel component to Regions Plaza remains an option, but is not definitive. "No decision has been made on the hotel concept as of yet," he said.


"We develop buildings and lease them ...

royaloak.localstew.com [cached]

"We develop buildings and lease them to various federal government agencies," said John Pavone, business development director for WSSA.

...
Pavone said the building will be a Leadership in Environmental Engineering and Design (LEED) facility, which means environmentally friendly features, like low-consumption heating and cooling systems, will be incorporated. The government requires all of its new buildings to be LEED certified, Pavone said.
"It will be a great-looking building," Pavone said.
...
Construction on the building will begin in a couple of months, and the project should be completed in six or seven months, Pavone said.


"We think the property lends itself ...

www.orlandosentinel.com [cached]

"We think the property lends itself as office or as residential, and we're going to let the market determine the future of the site," said John Pavone, business-development director for the firm. If one or two tenants step forward during the next few months to claim the majority of what will be 100,000 square feet of space, the owners will "re-skin" the building and improve it to meet their needs.

If no companies commit to the space within six months, West Second Street will take advantage of the building's proximity to SunRail commuter rail by pursuing plans for an apartment project there, Pavone said.
...
The BellSouth building could be a faster and more economical choice than new construction for companies hunting for downtown space, Pavone said.

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