July 18, 2018
The city of Beaumont, TX is planning to tear down a 46-year-old AT&T building on Main Street to make room for restaurants with a Neches River view. The structure at 555 Main St. has been vacant for a couple of years. The city will pay $1 million for the building, which is situated on 3.7 acres. The current owner is listed as Spirit Realty Capital, which is based in Dallas.
The 141,525-square-foot building once housed Southwestern Bell’s Beaumont division, which oversaw 34 counties and 62 cities. The building had been completed in 1976 by Southwestern Bell at a cost of $9.3 million. Today, the land is valued at almost half a million dollars, while the building is assessed at $3.6 million.
After demolishing the building, the city plans to market and lease portions of the land for future development.
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