Kemp Management plans to buy downtown

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GLO Press Secretary Jim Suydam saidhe can’t talk abouty the terms of the deal sincer it’s technically not yet complete. But he did say that Kemp planato renovate, not tear down the building, using it for specialtyg office space. Once the building is advertising and marketing agency McGarrah Jessee will becom thelead tenant, taking approximately 25,000 square feet. Mark McGarrayh said the company plans to move in July and will shift completely from itscurrenrt 15,000-square-foot office on Brazos St. to the Starr Building. The building’z historic piece of art, the giant Seymour Fogeol Mural, will also be preserved.
“Commissioner [Jerry] Pattersonj has worked with the buyer, the Texas Historical Commission and the Texas Commission on the Arts to include a permanent conservation easement that wouls preserve the Seymour Fogel Muralin place, in Suydam said. According to the Texas Commissiobn onthe Arts, the mural was paintede in 1954 for then American National Bank as commission to highlight the modernisf features of the new building. CB Richard Ellisz Inc. has been working with the GLO to sell the which sits on the corner of Sixth and Colorado Streets and encompasses half of acity block.
The propertyt was expected to garner significant interest because of its location in the heargt of downtown and because the site is unimpedec by height restrictions shoulc a buyer have opted toredevelop it. The GLO acquirefd the four-story building in 2005 on behalfv ofthe state’s Permanent School Fund for just over $4 That same year the building’es last tenant, the Texas Comptroller’s moved out and the property has been unoccupies since.