TYLER, TX (KLTV) - The Genecov Group announced today the sale of the downtown office building known as Plaza Tower to a local real estate investor group led by Tim Brookshire, Garnett Brookshire, Andy Bergfeld and Tony Morgan, according to a press release.
The Genecov Group has owned Plaza Tower, located in downtown Tyler since 2008.
"We believe this investor team will be an excellent match for this iconic downtown property," said Dennis Darryl, CEO of The Genecov Group.
Plaza Tower is adjacent to the landmark People's Petroleum Building, which the Brookshires began renovating six years ago with the help of their business partner, local real estate broker Andy Bergfeld.
According to Mr. Garnett Brookshire, their investor group "looks forward to continuing to serve the downtown Tyler office market, where there is a growing sense of community, revitalization and boundless synergies for local businesses." "Downtown continues to attract a young and diverse workforce who appreciates the live/work/play opportunities that only this unique downtown community can provide."
Renovation plans to Plaza Tower will incorporate retail space into the ground level, featuring modern, contemporary finishes consistent with the building's design, according to a press release.