The Law Offices of David Davies PLLC is the first tenant to occupy Metro Square, the newly renovated office space in the upstairs of the historic downtown Regions Bank at 1023 Main St.
The law office has been operating from Metro Square since Jan. 1. Managing Member David Davies said he was so impressed with the vision for Metro Square, he signed a five-year lease before renovations were complete.
“We understand that it’s taking a little time to get everything done,” he said. “It’s about two months in [renovations], and it looks better than we could have imagined.”
Salter Properties, general contractor for Metro Square, purchased the 29,634 square-foot bank as part of Downtown Properties, LLC investment group in June 2013. The group purchased the property from First States Investors 4200, LLC for $750,000. First States Investors 4200 purchased the bank in 2005 for $1.64 million.
In October, Brent Salter, vice president of Salter Properties, announced a partial rebranding of the downtown building into upscale office space upstairs, with Regions Bank remaining fully operational and maintaining brand identity downstairs.
Davies has three locations, the Conway location, which he refers to as the central location or “hub,” one in Fayetteville and another in Memphis, Tenn.
Before establishing a private practice, Davies accepted a job from Arkansas Attorney General Mark Pryor as Assistant Attorney General in the Criminal Appeals Court where he served until 2006.
In June of 2006, Davies opened his previous office location at 1150 Bob Courtway Dr. “It was a great space,” Davies said. “We just outgrew the building.”
With a focus in elder law and estate planning, Davies said it was important for his law office to be located in a recognizable place his clients are familiar with.
“Everyone knows the Regions Bank building,” Davies said. “[Clients] know how to get here and they have nice accommodations when they arrive.”
Salter said renovations to the upstairs office space should be complete and ready for tenants within the week.
“The furniture and art will be going in as soon as it arrives,” he said.
Renovations include a cafe area with coffee, cold and snack vending machines, a flat screen TV and top bar; new carpet, tile, paint, light fixtures and ceiling panels; and refurbished elevator, bathrooms and conference room.
By spring, Salter said, the courtyard fountain would have all components working, and he and his associates would begin looking at ways to update the courtyard space.
Jason Culpepper, Regions Bank market president for the city of Conway, said Salter Properties wants the bank to be the hub of Downtown Conway with picnic tables, umbrellas and “people coming in and serving food at lunch.”
“But I don’t know if that will happen in 2014 or not,” he said.
A total of 10,891 square feet is available for lease. Salter said suites could range from a single 195 square-foot office to one tenant leasing all available square footage.
Salter said interest has “increased drastically” and he “has a few things working right now,” but he would not disclose whom Davies neighboring tenants or tenant may be.
“I think our vision is coming together,” Salter said. “I can see that from walking down the street to seeing how may times our phone rings with interested tenants.”
April 3 at 5 p.m., Salter Properties is hosting a Business After Hours event with the Conway Area Chamber of Commerce in the upstairs, renovated portion of the bank.