LOCAL DEVELOPERS INVEST IN DOWNTOWN REDDING
After successfully implementing a plan to acquire and remodel the downtown building at 1525 Pine Street, local developers move onto larger project right next door.
Redding, CA (March 25, 2019) –Haedrich & Co., Inc. announced today the exciting acquisition and planned renovation of the iconic 1557 Pine Street building at the corner of Pine and Yuba Streets in downtown Redding, CA.Long time local community members and champions of downtown Redding, Eric Hiatt and Luke Miner recognized the potential for the property and were excited to continue investing in a city they call home.
“We couldn’t be more thrilled with how our community is embracing our downtown, and we are honored to be a part of the active revival,” stated Eric Hiatt, one of the partners of Downtown Collections, LLC, the local opportunity fund completing the project. Both Mr. Hiatt and Mr. Miner have been long time supports of downtown Redding and couldn’t be more optimistic about its future.“We need people to invest in downtown Redding and take an active role in keeping the positive momentum that has created much excitement,” mentioned Luke Miner, the other partner of Downtown Collections, LLC, “we feel blessed to have received so much encouragement, whether from the previous building owners who graciously passed the torch, or the City of Redding staff who have been a great help along of the way, or Haedrich & Co., for guidance and analysis for these projects, our experience proves our city and downtown are open for business and ripe for investment.”
Appreciating the history and valuable services provided by the building’s current tenant, the new owners gave the Salvation Army the first right to stay within the space after completion of the renovation.“We have great respect for The Salvation Army and the services and support they provide to Redding; it would have been a privilege to continue their tenancy in the building,” stated the partners, “however, after informing us of their plan to relocate their store, we asked Haedrich & Co. to start the search for new tenants.”
For additional information regarding the project, available space for lease, or investing in the opportunity fund, Downtown Collections LLC has asked all inquires to be directed to Chris Haedrich with Haedrich & Co. at (530)221-1127 or Chris@Haedrich.com
CONTACT: Chris Haedrich, Lic. #01484672
About Haedrich & Co., Inc.:
Haedrich & Co., Inc. is a full-service commercial real estate firm established in 1985. As our primary mission, the firm seeks to professionally serve its clients in making well-educated decisions concerning the use, management, operation, acquisition or disposition of commercial real estate. The firm specializes in commercial property valuation, investment analysis, and market analysis for all sectors of commercial real estate, as well as providing skilled negotiation of sale and lease transactions, property management services, and escrow services.