By Marty Finley – Reporter, Louisville Business First Dec 17, 2018, 12:37pm EST
A Louisville businessman has purchased a downtown office building that he hopes to use for his own companies. But a spate of recent tenant demand there may change those plans.Tim Mulloy has acquired the roughly 30,000-square-foot building at 111 W. Washington St. for almost $3.9 million, according to Jefferson County property records. The seller was longtime owner Main Street Realty Inc. of Louisville. The building is located on the corner of First and West Washington Streets near Whiskey Row and sits next to the Presbyterian Church U.S.A. headquarters. It is home to fast-growing internet protocol targeting and technology firm El Toro LLC, which will remain a tenant inside the complex, Mulloy told me.Mulloy had planned to take as much as 5,000 to 6,000 square feet of the remaining space to house his own series of companies, which includes MulloyBorland, a public affairs, public relations and strategic communications firm, and Mulloy Commercial Real Estate. Trending Banking & Financial Services One of Louisville’s largest accounting firms merging with N.C. company Dean Dorton President and CEO David Bundy said the firm will continue to pursue mergers “if the fit is right for our team members, our clients and the timing makes sense for the firm.” Transportation Amazon extends free and one-day shipping promotions Recently loaded packages sitting in the back of a semi-truck. Coming Event Going Global Jan. 29 Mulloy also is part of the ownership group of Louisville City FC. But since buying the property last week, Mulloy has signed two or three tenants he said make sense inside the building as a complement to El Toro. He did not disclose the new tenants because the leases have not been finalized, but he said the users will be familiar names to those in the Louisville business community.“I actually have such heavy demand that I may not move my offices in there,” he said. If he does, he said, he will only move some operations while retaining leased space at 131 W. Main St. above Bearno’s Pizza. “We will keep a presence there for sure,” he said. Mulloy said he enjoys the proximity to Whiskey Row and all the work being completed there, from the emergence of the 111 Whiskey Row mixed-use development anchored by Duluth Trading Co. to the new dual-branded Hotel Distil and Moxy under construction by Louisville developer Steve Poe that is slated to open in 2019.
Whiskey Row also recently added a new Old Forester Distilling Co. distillery and visitors’ experience. Now that he owns the downtown building, Mulloy has plans in place to enhance the site. Come January, Mulloy and business partner Paul Ford, president of Louisville’s Riverside Parking, will construct a 30-space parking lot next to the building for tenants. That work, he said, will be led by general contractor Calhoun Construction Services. “We bought it because we really like that part of downtown,” Mulloy said of the property.