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New tenant at the Systel Building; new name to come

By Staff Report, posted Nov 4, 2022 on BizFayetteville.com

Photo courtesy of the Systel Building

Changes are coming to the Systel Building, the tallest building in Downtown Fayetteville. Located at 225 Green Street in the Cool Springs Downtown District, the owners of the 11-story sky rise recently announced that a new anchor tenant will take residence in the building later this year. 

The new tenant has also secured naming rights and is planning for the building to change names by Dec. 1. In anticipation of the building’s name change, the Systel Building has rebranded to “225 Green St,” complete with a new logo, website, and social media platforms.

The building is owned by Keith Allison and his daughters, Jacqueline Smith, Cara Spencer, and Janene Aul, who purchased the property in 1998 and have used the 11-story roofline to house the company’s Marketing Department and Mortgage Company since 2012. 

This rebranding aligns with the Allison family’s investment in Fayetteville’s ongoing economic growth and downtown development initiatives. With this new tenant’s long term commitment, along with their investment in Fayetteville, the partnership makes sense for the overall revitalization of the building that has been underway since 2018.

When Allison purchased what was the former Wachovia Bank Building in 1998 for $3.2 million, there were very few businesses downtown, many of which had been boarded up for more than two decades, despite numerous revitalization efforts. Allison’s multi-million dollar transaction sparked a wave of private investment in the downtown district beginning in the late 90’s through present day. 

The Allison Family Managing Broker Jacqueline Smith stated in a press release: “We have been looking for a key anchor tenant to rebrand the building since Systel moved its downtown operations to the Industrial Park location 10 years ago.” 

This is one of the final steps in converting the building to a higher end, mixed use building, with new office spaces, retail, and even a restaurant that opened on the ground floor in 2021. Most recently, the building opened a tenant exclusive fitness facility, and there are plans to renovate an entire floor for office and meeting spaces that will serve as the model for other floors undergoing renovations in the coming years. 

The building remains under the Allison Family ownership and will continue to be managed by Allison Capital Partners with an onsite property management office located on the ground floor of the building.

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