Three companies, including the National Thoroughbred Racing Association, will move into office space at The Square this summer as the redevelopment of the downtown commercial property continues.
In addition to the racing association, Colonial Life, an insurance company, and C-Forward, a Covington-based information technology company, have signed leases for office space on the upper floors of the Main and Broadway development, according to NAI Isaac, a real estate group.
Attracting more office tenants is the second part of a multi-pronged effort to redevelop the downtown development, which floundered during the recession. The Webb Companies and Jeffrey Anderson Real Estate, of Cincinnati, took over the development several years ago. It has revamped the first or ground floor to attract new tenants. Those new tenants include Urban Outfitters and several local and regional restaurants, such as Tony’s of Lexington, Saul Good and Vinaigrette Salad Kitchen.
NAI Isaac has augmented the two developers’ efforts to market the office space in the four-story complex, which includes 16 historic buildings. It was formerly known as Victorian Square.
The racing association will move from its suburban location to The Square by Aug. 1, the association said in a written release. It has leased more than 4,850 square feet in the complex.
C-Forward should be moved into its space by the end of July, said Greg Brown, director of the central region for C-Forward. Officials with Colonial Life were not immediately available for comment.
Jamie Adams, a senior associate of NAI Isaac, said the redevelopment of the first floor of The Square has helped attract office tenants, luring some — such as the National Thoroughbred Racing Association —from suburban locations to downtown.
“Having that vibrant, mixed-use energy around a property is definitely a plus,” Adams said of the first-floor restaurants and retail.
Adams said slightly more than 8,100 square feet of office space in The Square is still available.