Canal Insurance Company to Move Headquarters to Downtown Greenville

Canal Insurance Company is moving its headquarters to the office tower at 101 North Main Street, anchoring the ONE City Plaza in Greenville to the heart of downtown.

Canal will lease approximately 65,000 square feet of office space at the location to serve as the new corporate headquarters, “signifying Canal’s long-term commitment to Main Street,” according to a press release from Colliers, a management company. investment and commercial real estate.

“As a family business with close ties to Greenville for several generations, Canal is pleased to expand its operations and presence in the city through this decision and investment,” said Paul Brocklebank, President and CEO of the management of Canal, in the press release. “We have reached an important milestone in our journey as a company with a successful history spanning over 80 years on the books and a bright vision for the road ahead. The move to 101 N. Main represents a significant commitment from the company. he company towards that future, our valued employees and customers we serve, and the City of Greenville.

Canal is expected to move into its new headquarters by mid-year 2022.

“From here you can change the world” is the economic development anthem for the City of Greenville, “Mayor Knox White said in a press release. “During the Great Depression and World War II, Canal Insurance Company and its founders did just that in the long-haul trucking industry. Over the past 80+ years, Canal has grown its business out of Greenville. We congratulate them on their expansion and welcome them to the heart of downtown. Bringing another respected and nationally known corporate headquarters to Main Street shows that Greenville is resourced and ready for quality growth and development.

The move will rename the 16-story downtown office tower, which was previously occupied by Bank of America and its predecessors for decades. Canal will become the new main tenant of the tower, occupying floors 4, 12, 14, 15 and 16, or more than a third of the building, according to the press release.

Colliers’ office brokerage team members Brantley Anderson, Taylor Allen and Bailey Tollison represented the company on the move.

“We are delighted to represent Canal Insurance Company in connection with the relocation of its headquarters. Canal’s vision for space is a testament to the culture of the company and its commitment to the work environment of its employees, ”said Allen. “Having a new downtown anchor office tenant is something the city is clamoring for, and we are delighted that Canal can continue to elevate the office market in the central business district. “

The company plans to develop its new space using LCK, Colliers’ project management partner, for the work. LCK’s Scott Rush and Doug Vincent will lead the project.

The 101 North Main Street tower, also known as the Bank of America Plaza, has been in continuous use by a bank since it was built in 1972, according to Greenville News records.

Bank of America announced in 2018 that it was relocating to the Camperdown development on Main and Broad streets.

Following: Bank of America to retire from downtown tower and move to new space on Main and Broad

Canal has been headquartered at the current Stone Avenue location for 29 years. Plans for the old building are yet to be determined, said Macy Scoggins, Colliers’ marketing coordinator. The property totals approximately 5 acres and is valued at $ 10.9 million, according to county property records.

Canal specializes in insurance for commercial trucking and specialized transport operations. Founded in 1939, the company provides services such as automobile liability, road freight, physical damage, general trucker liability coverage, and risk management services.

The insurance company has more than 230 employees “with growth on the horizon,” the statement said. Canal has hired 85 new employees in the past 3 years, the company said, and it currently has 10 additional positions open on its website.

“Our employees are very excited and eager to relocate to the heart of downtown,” said Laura Beth Medley, Vice President and Director of Human Resources and Corporate Communications at Canal. “We believe that this new location and contemporary office space will not only be appreciated by our current employees, but will also be a benefit for future recruitments. ”

Macon Atkinson is the town watch reporter for The Greenville News. It is fueled by long runs and strong coffee. Follow her on Twitter @maconatkinson.