Linden Thomas and Company Moves Uptown
The firm purchased the 11,000-square-foot property at 516 N. Tryon St. through an affiliate company in early April for $2.6 million and is renovating the upstairs to create additional space for its financial advisers, says managing principal Stephen Thomas. The move is expected in August.
The building was sold by a limited liability company managed by Wesley Mancini, who operated his textile design firm, Wesley Mancini Ltd., from the location. Mancini had owned the building since 1996, when he purchased it for $500,000.
Thomas left Merrill Lynch & Co. to start his firm in 2004. Linden Thomas has been in SouthPark since then and has grown to about 20 employees, including five financial advisers. As it grew, the company previously relocated from SouthPark’s Rotunda building to 5,000 square feet at 5955 Carnegie Blvd. At its new property, Linden Thomas will have more space to expand its research team and add offices for recently hired financial advisers. The building also comes with 25 parking spots, which was a big plus, Thomas says. “To get a little historical building right on Tryon, and it’s got 25 parking places — for us, it’s exceptional,” he says.
Thomas looked at properties in SouthPark, and he also owns an 8,100-square-foot building at the corner of East Third and South Torrence streets he considered for redevelopment. As he was working through those plans, however, the North Tryon building came to his attention, “and I just loved it,” he says. “It’s got a lot of character to it.”
Linden Thomas caters to high-net-worth clients and manages nearly $800 million in client assets. Thomas says he expects to hit $1 billion in client assets by year end.