[Charleston] Chase Tower changes hands...

[seicer]

Chase Tower changes hands

Chase Tower, at 707 Virginia Street East, was Charleston's first modern, glass-curtain high-rise. At 20 stories (17 above ground), it features a 460-car underground parking structure and opened as the Charleston National Bank in 1969. Charleston National became part of Key Centurion Bancshares Incp. and in 1993, Key Centurion was purchased by Banc One Corp. They later changed their name to Bank One. "JP Morgan Chase & Co. and Bank One merged in 2004. Later, the company decided to use Chase as its consumer and commercial-banking brand."

The building has slightly less than 90% occupancy. There are suites as small as 1,000 sq. ft. available, and the entire 10th floor (12,635 sq. ft.) is in shell condition.

Other changes --

1. A neighbor, the United Center, changed hands in 2005. A company headed by Charleston banker Ike Smith bought the 12-story structure at 500 Virginia St. E. from Faison Associates of Charlotte, N.C., for $18.5 million.

2. Laidley Tower changed hands in 2002. BGK Equities of Sante Fe, N.M., bought the tower at 500 Lee St. from an affiliate of Cigna Corp. for $18.5 million.

[SimCity]

Interesting, too bad there isn't a picture of it. What's up with the three stories underground? Why so many and what are they being used for?