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A spokeswoman for the developer seeking to purchase the Main Street Arena in downtown Charlottesville and build a “21st-century office building” there confirmed Thursday that a neighboring building is also under contract, setting the stage for a possible business innovation district.

In a news release, Payne, Ross and Associates said that both the arena property at 230 W. Main St. and 215 W. Water St., currently occupied by Escafe restaurant, are under contract by Taliaferro Junction LLC.

The restaurant’s lease ends this month, but owner Todd Howard said the business will continue operations in 2017 on a month-to-month lease. “These deals take time,” he said. “We’ll be running business as usual until we hear different.”

Earlier this month, Jaffray Woodriff, CEO of Charlottesville-based Quantitative Investment Management, confirmed that Taliaferro Junction LLC was evaluating a purchase of the Main Street Arena. Woodriff said at the time that he does not plan to move QIM to the new building should the purchase be completed.

The Escafe property is being studied in an “early planning phase of development,” according to Payne, Ross.