In 1974, Scott Brown opened his first bank account at the age of 10 in the Wells Fargo building in downtown Denton. Now, he owns the building.
Brown, owner of Scott Brown Commercial, purchased the building along with the building at 419 S. Elm St. and 405 S. Elm St. in a deal with Jack Bell, who previously owned the properties.
“I was born and raised here — I’ve been here 55 years, and ever since I got in real estate I’ve had a dream to end up with this building one day,” Brown said. “I wanted to buy it before Jack bought it, but I couldn’t; then I thought we’d never get the chance again. So when he gave us the opportunity, we took it.”
Bell, who declined to comment for this story, bought the property in 2017 from Wells Fargo and added two floors of apartments and added several new office spaces. Right now, the occupancy is 65%, said John Withers, the leasing agent in charge of the property.
“We want to feed off of what Stoke’s doing downtown with the city, and we’ve talked to some tenants about coming here,” Withers said. “We’re really just looking for neat companies to come downtown and build on what’s already here.”
Stoke, a city-sponsored co-working space, allows tenants to rent desks and small offices and is geared toward startups and new technology companies.
For office space, there’s space available for 300 square feet to 20,000 square feet to build out. Work is still underway for Sunago Bell, an event space that takes up the entire top floor of the tower, which is expected to open by the end of the year.
Withers and Brown are in talks with the city about bigger plans for the property, too. They’d like to make the paid parking lot free again, but the contract with ParkMobile is still active. They’d also like to eventually add a small boutique hotel and create more public parking, Withers said.
The second-floor roof is going to be the first big project under new ownership. Radical Hospitality Group, the team building Sunago Bell, is going to make the roof a large outdoor patio space. Work should start in the first quarter of next year, Withers said.
“This is a legacy building for Scott and I, and we want it to reflect well on Denton and the city,” he said.