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301 West Bay Street
Savannah, GA 31401
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| Square Feet: |
27,900 sq. ft. |
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| Attributes: |
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Historic, Downtown |
| Features: |
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Wood Floors |
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Mortgage Estimate:
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Rate: 6.50% | Years: 30
Down Payment: $1,000,000 (20.0%)
Loan: $4,000,000
Payment: $25,283
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301 West Bay Street
With a history dating back to the founding of the Georgia colony in 1733, The George Wimberley Jones Derenne Building is for sale for the first time in almost 30 years. Originally built in 1893 by George Wimberley Jones Derenne, the prolific descendent of Noble Jones, an original colonist in 1733, the building at 301-303 West Bay was built as a warehouse and is presently used as the nightclub Club One, a thriving establishment which is famous for its relationship and regular hosting of Midnight in the Garden of Good and Evil star and central movie character The Lady Chablis. Only in Savannah could history be so entwined. As a fact of interest, George Wimberley Jones Derenne also planted the allée of live oaks leading to the historic Wormsloe plantation at Isle of Hope, which was the family plantation first settled in 1733.
This property has many possibilities. It would make an excellent location for a National retailer and is particularly attractive because of the over 60' x 90' freestanding footprint, totaling over 5,400 square feet per floor, which is very rare in the downtown Savannah Real Estate Market. On the top floor is an incredible mezzanine space and clearstory with over 2800 square feet of outdoor deck space overlooking the Savannah River with views of the bridge and the city skyline. It may be possible to create underground parking in the basement and there is the possibility of going up one or two stories. With the recent signing of the long term lease for 217-221 West Broughton Street by Urban Outfitters, who are using the basement, the street level and the second floor of 217-221 West Broughton, the property at 301-303 West Bay stands as the last free standing building in the core downtown shopping district with the kind of square footage needed for another major retailer of international stature. Many of them are looking at Savannah. Keep in mind that only one block away is one of the most fascinating aspects of the rebirth of Savannah, particularly for Savannah’s business district, and that is the Ellis Square project which is nearing completion and is projected to provide over 1,000 underground parking spaces with a crown jewel on top of a beautiful green and leafy newly designed Ellis Square park along with new hotel space, retail, office and very upscale residential.
This is an exciting opportunity in Savannah’s Landmark Historic District which is on the cusp of achieving a new world stature. Savannah has already received much recognition from many different sources year after year for its trees, its urban livability and the rare 18th century city plan. Savannah is also leading the southeast coast with its strong business climate, particularly our leading harbor, the headquarters for the Americas of English based heavy equipment manufacturer JCB, and the location here of the currently expanding Gulfstream aerospace Corporation. Tourism is bounding and the Savannah College of Art and Design has lent sophistication and internationality here due to its upscale savvy degree programs and a remarkable student body which hails from over 80 countries.
With all the developments on the horizon such as Savannah River Landing (breaking ground), The Reserve at Savannah Harbor (going vertical), an extended River Walk and our thriving Broughton Street, the time is right to enter the Savannah Real Estate Market and you could not do better than this important Free Standing Historic property on the corner of Bay and Jefferson Street near Savannah’s City Market and the News Place project which is also well under way! Listed at $5 Million. Call Betty Reiter 912-224-1692 or Ron Melander 912-441-7124 for more information.
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