At first I thought this was stucco because of the obvious expansion joints but slight colour variations seem to reveal it's actually precast panels, with the windows and 'lintels' already cast in, and separate corner quoins about to go in just as soon as the front panels are installed.
I drove by this on the weekend and it looked ok to me. The stonework is a nice touch, but the covered parking areas completely dominate the building. If something were to be developed on the adjacent property right on the property line it would help a ton since the covered parking would not be nearly as visible.