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August 22. 2012 1:42AM
Center of New Hampshire high-rise will receive a $500,000 makeover
MANCHESTER — The Center of New Hampshire Office Tower at 650 Elm St. is getting a half-million dollar makeover this fall in its entry ways, atrium and first floor common areas as well as elevator interiors.
650 Elm LLC, an entity controlled by the Vinios family, which originally developed it, bought the building back last fall from NAS Management Inc. (North American Specialty Insurance), which held it for 19 years.
“There's a lot of history there,” said Lou Vinios, president of JPA Management. His late father, Nicholas Vinios, was the original developer of the Center of New Hampshire, which includes an expo center, convention space and Radisson Hotel. The office tower was completed in 1985, city records show.
650 Elm LLC, which is managed by JPA Management LLC, reacquired the building Nov. 10, 2011, for $8,675,000. The seven-story, 107,852-square-foot building is assessed for $9,396,400.
“We hope it will propel us to be the top building in the market,” said Taki G. Pantazopoulos, executive vice president of JPA Management LLC.
Genella McDonald of Stibler Associates LLC in Manchester, who is working on the renovation designs, touted the building as being “one of the more modern designs on Elm Street.”
Jay Minkarah, the city's director of economic development, said the project underscores the owner's confidence in the local economy.
“I'm pleased to see the investment that's being made in what's really a signature property in downtown Manchester,” he said.Minkarah noted the work on the office tower is part of a larger project involving renovations to the hotel and the garage as well.
Major tenants in the building include Harvard Pilgrim, North American Specialty Insurance and TD Ameritrade. Harvard Pilgrim took over the seventh floor this spring, moving from Bedford.
“The building was not on the market for sale,” said Thomas P. Farrelly, executive director of Cushman & Wakefield Inc.'s Manchester office. “We were discussing the lease with North American, and it kind of morphed into a sale.”
Farrelly said North American was a generous owner occupant, donating space to Special Olympics.
The building is currently 75 percent occupied, said Pantazopoulos.
Pantazopoulos said work should start in four to five weeks and be finished in 12 to 16 weeks from then.
“We need to continue to operate the building, keep walkways safe while we are working in the public space and things like that,” he said.
There will be new lighting throughout, new entrance doors from Elm Street and the Expo Center.
The redesign was inspired in part by the fit up Harvard Pilgrim did for its space.
“We'll be carrying that theme up through the fifth floor public space,” Pantazopoulos said.
McDonald of Stibler Associates said the atrium included columns that are chopped off at the first floor level, a suspended planted and extra angles and soffits that block off views.
“The main lobby is open to the second floor, so we're going to take away the clutter and kind of bring those columns up to the second floor,” she said.
“We're hoping to also make the space more functional,” McDonald said. “They don't currently have any seating for the cafe area, so we're going to be putting in a few high-top tables in one side of the lobby and some lounge seating on the other side, so people can have impromptu meetings or a place to eat a sandwich.”
Stibler will employ a neutral palette with white walls, large gray tile on the floor and what she described as a “fun modern pattern on the carpet, white and gray and black.
“Then we're doing punches of fun color, orange decorative light fixtures,” McDonald said. “We have kind of a cerulean blue furniture finishes, yellow accent walls, so there are these kind of bright pops depending on where your view is or where you are walking or sitting.”
Denis Paiste may be reached at dpaiste@unionleader.com.
650 Elm LLC, an entity controlled by the Vinios family, which originally developed it, bought the building back last fall from NAS Management Inc. (North American Specialty Insurance), which held it for 19 years.
“There's a lot of history there,” said Lou Vinios, president of JPA Management. His late father, Nicholas Vinios, was the original developer of the Center of New Hampshire, which includes an expo center, convention space and Radisson Hotel. The office tower was completed in 1985, city records show.
650 Elm LLC, which is managed by JPA Management LLC, reacquired the building Nov. 10, 2011, for $8,675,000. The seven-story, 107,852-square-foot building is assessed for $9,396,400.
“We hope it will propel us to be the top building in the market,” said Taki G. Pantazopoulos, executive vice president of JPA Management LLC.
Genella McDonald of Stibler Associates LLC in Manchester, who is working on the renovation designs, touted the building as being “one of the more modern designs on Elm Street.”
Jay Minkarah, the city's director of economic development, said the project underscores the owner's confidence in the local economy.
“I'm pleased to see the investment that's being made in what's really a signature property in downtown Manchester,” he said.Minkarah noted the work on the office tower is part of a larger project involving renovations to the hotel and the garage as well.
Major tenants in the building include Harvard Pilgrim, North American Specialty Insurance and TD Ameritrade. Harvard Pilgrim took over the seventh floor this spring, moving from Bedford.
“The building was not on the market for sale,” said Thomas P. Farrelly, executive director of Cushman & Wakefield Inc.'s Manchester office. “We were discussing the lease with North American, and it kind of morphed into a sale.”
Farrelly said North American was a generous owner occupant, donating space to Special Olympics.
The building is currently 75 percent occupied, said Pantazopoulos.
Pantazopoulos said work should start in four to five weeks and be finished in 12 to 16 weeks from then.
“We need to continue to operate the building, keep walkways safe while we are working in the public space and things like that,” he said.
There will be new lighting throughout, new entrance doors from Elm Street and the Expo Center.
The redesign was inspired in part by the fit up Harvard Pilgrim did for its space.
“We'll be carrying that theme up through the fifth floor public space,” Pantazopoulos said.
McDonald of Stibler Associates said the atrium included columns that are chopped off at the first floor level, a suspended planted and extra angles and soffits that block off views.
“The main lobby is open to the second floor, so we're going to take away the clutter and kind of bring those columns up to the second floor,” she said.
“We're hoping to also make the space more functional,” McDonald said. “They don't currently have any seating for the cafe area, so we're going to be putting in a few high-top tables in one side of the lobby and some lounge seating on the other side, so people can have impromptu meetings or a place to eat a sandwich.”
Stibler will employ a neutral palette with white walls, large gray tile on the floor and what she described as a “fun modern pattern on the carpet, white and gray and black.
“Then we're doing punches of fun color, orange decorative light fixtures,” McDonald said. “We have kind of a cerulean blue furniture finishes, yellow accent walls, so there are these kind of bright pops depending on where your view is or where you are walking or sitting.”
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Denis Paiste may be reached at dpaiste@unionleader.com.
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