The property owner, Ed McCoy of McCoy Holdings, says he boughtthe buildings after Grinnell relocated operations about a year ago.The finished product will be called Grinnell Water Works, retainingsome of the flavor of the past.

The 53,000-sf warehouse already has its first tenant. Tworecently-merged companies have signed a five-year lease to occupy23,980 sf by the end of the year. The companies, Indianapolis-basedAllegiant Technology and Vicious Systems, a Charlotte company, haveover 200 employees and provide consulting and technology solutionsfor e-commerce.

Charlotte architects McClure Nicholson Montgomery and Severs,who have applied to have the property listed on the NationalHistoric Register, have chosen to keep much of the original designwhile embellishing certain features of the two buildings.

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