As Heritage Place marks its 30th anniversary in downtown Moline, the stately office building has been renovated to be marketed to new tenants searching for smaller, private executive suites. The seven-floor office tower, located at 1515 Fifth Ave., is home to several anchor tenants. But with the departure of John Deere, the building’s main tenant, […]
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As Heritage Place marks its 30th anniversary in downtown Moline, the stately office building has been renovated to be marketed to new tenants searching for smaller, private executive suites.
The seven-floor office tower, located at 1515 Fifth Ave., is home to several anchor tenants. But with the departure of John Deere, the building’s main tenant, last December, the property’s owners are converting the remaining space into offices with smaller footprints to meet the needs of today’s office tenants.
“Business is changing, people are coming out of COVID-19, and they want mini-offices and less overhead,” said Danelle Da Nelle, a longtime property manager with Samco Properties.
To accommodate the changing real estate landscape, Ms. Da Nelle said some of Heritage Place’s vacant space is being built into one-person, furnished office suites. All office tenants also have access to a covered parking ramp and walkway and a shared conference room, common kitchen and a fully equipped fitness center.
Although many larger office spaces are being divided into private suites, Ms. Da Nelle said there will still be space for tenants who need multiple offices or square footage. “We want to be ready for everybody,” she said. “But people are looking for smaller offices. Coming out of COVID, they are downsizing or are opening a new business for the first time.”
She added that the executive suite model “is extremely unique in the Quad Cities.” The new format is attractive to various commercial tenants, including offices, small retail and new startups looking for a freestanding site. An additional seven executive suites are expected to be completed in December — adding to the building’s existing inventory of suites. Monthly rents begin at about $400 per suite.
Located in the heart of Moline Centre, Heritage Place “has some great views” of the new I-74 Bridge, the KONE office building and the John Deere Commons. Heritage Place recently was honored as a 30-year business by the Quad Cities Chamber of Commerce.
Built in 1992 as the Heritage Building, the project was one of the earliest developments of the then startup group Renew Moline. The economic development organization was created in 1989 after Deere & Co. donated ground for the city’s new civic center, which opened in 1993. First known as the Super Block project, the Heritage Building provided Class A retail and office space.
In 2006, the building was purchased, renovated and re-branded by Heritage Place Associates LLC, one of Samco Properties’ affiliated companies. The real estate firm was founded in 1992. Headquartered in Deerfield Beach, Florida, Samco and its affiliated companies own and operate more than 3.5 million square feet of commercial real estate across 20 states. Heritage Place is its only property in Illinois.
“It’s about being flexible with what businesses want,” Ms. Da Nelle said. “If people are leaning toward smaller offices, you’ve got to be flexible.”