Downtown building takes Morgan Stanley name
A downtown Rochester landmark now is sporting a new name.
A new sign for the Morgan Stanley Center went up on Wednesday at 201 S. Broadway, the former Lanmark Center.
"When we renewed our lease, we asked about the naming rights of the building," said David Olson, who is in charge of Morgan Stanley's Rochester branch. "People agreed it would make sense for it to be the Morgan Stanley Center. We're really excited about it."
Morgan Stanley has been based on the second floor of the 65-year-old building for the past 15 years, he said. However, a lot of people weren't aware it was there.
"Now," Olson said, "People will know where we are."
While many financial companies have moved out of downtown in recent years, Morgan Stanley decided not to follow them.
"It's kind of fun being here right at the heart of it, here at Broadway and Second. With DMC (Destination Medical Center) and all of the developments, it makes sense to stay," he said.
As part of the change, Morgan Stanley has made some changes to spruce the building and the office up. Olson said he expects to host an open house in the spring to celebrate the new name.
The name, Lanmark Center, originated from Lanmark Property Management. That firm was owned by Rochester developer Gus Chafoulias, who also owned the building from 1998 to 2003.
In 2003, GAC Development sold the 34,384-square-foot complex to MK Lanmark LLC for $7 million. MK Lanmark is owned by real estate investor Mark Kramer, of Iowa.
The building is known to older generations of Rochester residents as the former F. W. Woolworth Co., which opened there in January 1950.
Before Woolworth, that site had housed the historic Cook Hotel. The Cook Hotel, which was built in 1869, burned in February 1946. It was demolished in 1949. — Jeff Kiger