Plaza_and_Peoples_Petroleum_Building_Downtown_Tyler_Stock_H.jpg

Plaza building and People's Petroleum Building in downtown Tyler. (Sarah A. Miller/Tyler Morning Telegraph)

The Genecov Group announced the sale of the downtown office building known as Plaza Tower to a local real estate investment group led by Tim Brookshire, Garnett Brookshire, Andy Bergfeld and Tony Morgan.

The building is colloquially known as the “Bank of America Building,” and sits on the west side of the T.B. Butler Fountain Plaza, beside the People’s Petroleum Building. It’s distinguished by its 20 stories of darkly tinted windows.

The Genecov Group has owned Plaza Tower since 2008, according to a news release announcing the sale.

“We believe this investor team will be an excellent match for this iconic downtown property,” Dennis Darryl, CEO of The Genecov Group, said in a news release.

Plaza Tower is adjacent to the 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.

The People's Petroleum Building project brought new tenants to downtown such as Jack Ryan’s Steak & Chophouse, Susan Robinson Fine Jewelry, Texas Bank & Trust, and many new business offices.

The Brookshires and Bergfeld have increased the occupancy of the People's Petroleum Building from 10 percent in 2012 to 95 percent today.

The Plaza Tower will be personally managed by Garnett Brookshire and Andy Bergfeld.

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 the news release.

Twitter: @TylerPaper

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