Colleyville Chamber to relocate to former Wachovia building, will staff space for new business center

The Colleyville City Council approved a sublease agreement for the former Wachovia building, located at 5601Colleyville Boulevard, Colleyville. The building will house the Colleyville Chamber of Commerce and the Colleyville Business Center. (Community Impact Newspaper file photo)
The Colleyville City Council approved a sublease agreement for the former Wachovia building, located at 5601Colleyville Boulevard, Colleyville. The building will house the Colleyville Chamber of Commerce and the Colleyville Business Center. (Courtesy city of Colleyville)

The Colleyville City Council approved a sublease agreement for the former Wachovia building, located at 5601Colleyville Boulevard, Colleyville. The building will house the Colleyville Chamber of Commerce and the Colleyville Business Center. (Courtesy city of Colleyville)

The Colleyville Chamber of Commerce is moving to a new home.

Located on Colleyville Boulevard is a building that used to house Wachovia bank. The building, highly visible along Colleyville’s main business corridor, has sat vacant for more than seven years.

But that will soon change. At the Dec. 3 Colleyville City Council meeting, council approved 6-1 a sublease agreement with the bank owners for the building.

The city plans to use the space for the new Colleyville Business Center. It will also house the Colleyville Chamber of Commerce, Assistant City Manager Mark Wood said. Council Member Callie Rigney voted against the item, saying she had not seen a demand for this type of service.

The Colleyville Business Center has been an item of council discussion for some time. The city plans to use the center as a one-stop resource for existing and prospective businesses. Included in the space are chamber offices, flexible office spaces, a large conference room, two small conference rooms, a work and break room, a reception area and eight workstations, according to meeting documents.


Programming at the center will include events, education opportunities and entrepreneurism, Wood said.

“The former Wachovia bank building has challenging financials that remain until the original lease expires in 2025,” Wood said in an email. “The City being able to fill the gap will ensure the highly visible building on SH 26 will have a tenant and activity in the previously vacant space.”

The bank owners have agreed to a lower sublease rate for the city. The property will cost the city an estimated $62,832 for base rent, with annual escalators increasing that amount a small percentage each year for the five-year agreement. Money for the sublease is available to the city via the Tax Increment Financing fund, Wood said.

Following a brief construction period, the building will be open in early 2020. Construction costs are estimated at about $160,000.

The chamber will rent the building from the city for $15,000 for the first year, with that cost estimated to increase annually as well. The chamber will also provide staffing for the business center.

“We are so excited to partner with the city on this,” chamber representative Kay Allen said at the Council meeting. “I think this a great opportunity for the citizens of Colleyville as well as the small businesses. I would like to congratulate you for being innovative on the creative use of this property. I think it is the new wave.”

Had the city not stepped in, the building more than likely would have remained vacant until the bank’s contract on the property terminated in 2025, Wood said.

“The City is committed to facilitating exceptional economic development in Colleyville, and the Colleyville Business Center will provide a tremendous resource in this effort,” he said in his email. “We are happy to partner with the Colleyville Chamber of Commerce in the endeavor and believe it will be an asset for the community.”

SHARE THIS STORY
By Miranda Jaimes

Miranda has been in the North Texas area since she graduated from Oklahoma Christian University in 2014. She reported and did design for a daily newspaper in Grayson County before she transitioned to a managing editor role for three weekly newspapers in Collin County. Now she's in Tarrant County, mostly, and has been an Impacter since 2017 as the editor of the Grapevine/Colleyville/Southlake edition.


MOST RECENT

crush it virtual sports lounge grapevine soccer
Crush It Virtual Sports Lounge looking to open in Grapevine in late February

Crush It Virtual Sports Lounge is projected to open in late February at 401 W. SH 114, Grapevine.

crazy horse art studio grapevine
Crazy Horse Art Studio in Grapevine provides space for artists to express themselves

Artist Elizabeth Temple opened Crazy Horse Art Studio at 209 N. Dooley St., Grapevine, and began hosting events in November.

Proposed Honda dealership greenlit by Grapevine City Council

A Honda dealership is coming soon to Grapevine at 2301 William D. Tate Ave., Grapevine.

D1 Training Colleyville
Fitness center D1 Training now open in Colleyville

D1 Training officially opened Jan. 6 at 4906 Colleyville Blvd., Ste. 214, Colleyville.

Chick & Biscuit is a concept from Chef Beth Newman of Grapevine Main Street’s Mason & Dixie. (Courtesy LDWWgroup)
4 vendors chosen for Grapevine's Harvest Hall include new concepts from Mason & Dixie, Loveria Caffe restaurants

Four vendors have been chosen for Harvest Hall, Grapevine’s much-anticipated food and entertainment venue that is slated to open in 2020, according to a news release announcing the selected applicants.

Chick-fil-A’s restaurant at 1245 William D. Tate Ave. will be moving to a new building at the location of the former Silver Fox restaurant. (Courtesy Chick-fil-A)
Chick-fil-A on William D. Tate Ave. in Grapevine to move to adjacent property

Chick-fil-A’s restaurant at 1245 William D. Tate Ave. will be moving to a new building soon.

The hotel is slated to open in fall 2021. (Renee Yan/Community Impact Newspaper)
Westin Hotel breaks ground in Southlake

Developers, investors, Southlake Mayor Laura Hill and City Council members and city staff gathered at 1200 E. SH 114, Southlake for the groundbreaking of the Westin Hotel.

Soul Sweat offers 45-, 65- and 75-minute classes that include Vinyasa, strength, yin and power yoga. (Courtesy Fotolia)
Soul Sweat Hot Yoga now open in Colleyville

Soul Sweat Hot Yoga had a grand opening Jan. 11 at 4902 Colleyville Blvd., Ste. 102, Colleyville, the former location of Sumits Yoga.

Bark Avenue Market & Bakery passed its 10th anniversary in early January. (Courtesy Fotolia)
Bark Avenue Market & Bakery in Colleyville celebrates 10 years of business

Bark Avenue Market & Bakery passed its 10th anniversary in early January.

The Carroll ISD board of trustees approved additional funds to be allocated for the upcoming state-of-the-art music and performing arts center being built at Carroll Senior High School. (Renee Yan/Community Impact Newspaper)
Carroll ISD amends budget for music center in light of permitting, utility challenges

The Carroll ISD board of trustees approved additional funds to be allocated for the upcoming state-of-the-art music and performing arts center being built at Carroll Senior High School.

hand placing ballot in ballot box fotolia stock image
Candidates begin filing to run for local office in Grapevine, Colleyville and Southlake

Jan. 15 marked the first day candidates could file to run for local office in the May 2 general election. Prospective candidates must file by 5 p.m. Feb. 14 to appear on the ballot.

texas capitol building fotolia stock image
Public education the focus of upcoming forums with candidates for the Texas Legislature

The events are hosted by nonprofit advocacy group Raise Your Hand Texas Foundation.

Back to top