NEW ORLEANS, Oct. 19 /PRNewswire/ -- An institutional caliber New Orleans skyscraper formerly known as Chevron Place today joined the billion dollar business momentum that New Orleans has generated since hurricane Katrina remodeled the city. The 21-story office tower located at the corner of O'Keefe and Gravier streets was acquired today by Kingfish Development, LLC. The skyscraper will be renamed City Centre of New Orleans and it will become a hub for technology based companies, entrepreneurs and companies who want a prestigious downtown business address. Once fully occupied City Centre will bring 700-800 jobs into the Central Business District.
Kingfish Development, LLC purchased the 380,000 square foot office tower, seven story parking garage and adjacent two level annex today from Chevron. The principals of Kingfish are Hugh Uhalt and Steven O. Medo III. Other investors include Robert, Joseph and Chris Bruno. Robert Bruno stated that, "As New Orleans natives we have seen the recent progress downtown and we envision City Centre as a key driver of downtown's robust trend of business development." According to Mr. Uhalt, "We are providing world-class office space in an area with heretofore limited capacity to accommodate corporations, technology based firms and growing entrepreneurial enterprises."
One of the unique features of this property is its high-tech infrastructure which includes a state-of-the-art fiber optic network, network servers and 1000 phone lines. For movie producers who need to uplink "dailies" to call centers that require hundreds of phone lines to banks who need to process millions of transactions per day, this space is ideal and very affordable. In addition, the owners are committed to helping bring together companies who want to collaborate on projects. The building will have community spaces with interactive white boards to accommodate those entrepreneurs and business executives who are searching for innovative ideas. This technology facilitates collaboration in the same space or a world away.
The City Centre can house corporations who need proximity to the new Veterans Administration, LSU and Tulane medical complexes, the Port of New Orleans, regional financial firms, the New Orleans Superdome and Champion Square-the new sports entertainment facility. In addition to business-sports-medical complexes and financial firms accessibility, the building is within walking distance of the French Quarter and its world-class restaurants, hotels and music venues.
"We are excited to see the former Chevron Place come back into use as the City Centre," says Michael Hecht, President and CEO of Greater New Orleans, Inc. "As our region's business community continues to rapidly expand, this property will add to the renaissance of New Orleans."
Kurt Weigle, CEO of the New Orleans Downtown Development District said, "This property is an impetus for biomedical, digital media and arts based businesses to locate in New Orleans. We have seen many businesses come to our area in search of the lifestyle and inspiration. This building's communal areas and technology will be an advantage for those firms."
The City Centre is managed and leased by Transwestern. Marketing Director Louis Vergona said, "The building was maintained in pristine condition since Chevron moved two years ago. The fiber optic network, servers, phone lines and suites are available for immediate move-in and provide a perfect 'plug and play' solution for businesses. The owners plan to invest $25 -$30 million in the tower to continue to keep the technology and space on the cutting edge of the demands of global business trends."
City Centre, like its neighbor, the Waldorf Astoria's renovated Roosevelt Hotel, is building the future image and style of New Orleans.
Leasing inquiries should be directed to Louis Vergona at Transwestern at 504.799.3122 or 504.723.9629.
SOURCE Kingfish Development, LLC