A little more than a year since opening, some 6,000 square feet of office space and 1,300 square feet of retail paces are still empty in the mixed-use Square 46 development on Government Street.
The 25,000 facility, of which White Star Market, eight apartments and two retailers take up more than two thirds, has struggled to fully lease the remaining office and retail space.
Two office spaces, each 3,000 square feet, are available for lease, says Benjamin Graham, with Stirling Properties, who took over representing the property about a year ago from Elifin Realty. One of the spaces recently became vacant, Graham says, when Square 46 developer Josh Hoffpauir moved his architectural firm, Hoffpauir Studio, from the property. Hoffpauir was not able to be reached for more information before this afternoon’s deadline. The office spaces are priced $23 per square foot.
Graham declined to offer his take on why Square 46 has not filled the available space.
There’s also a 1,200-square-foot retail space available on the bottom floor that’s been on the market for about a month at $25 per square foot. It was previously occupied by an art gallery that elected not to renew its lease.
Interest for the retail space has been strong, Graham says, despite the storefront not facing Government Street. He expects to possibly execute a lease with either another art group or a boutique.
“The developer was just a little ahead of the game for Government Street,” Graham says. “It’s catching up, with improvements in the area, and it’s helping this development and the entire area.”
