An Arkansas-based real estate partnership has bought the Wells Fargo Center in downtown Greenville for $33.25 million.
CapRocq purchased the property at South Main and East Washington streets that encompasses most of a city block.
It is the company’s first asset owned in Greenville. It also owns assets in Columbia and Charleston.
Colliers International in Greenville and Arkansas represented the buyer. Colliers will handle the leasing and management of the center, which had been the property of FRI Investors.
The center’s restaurant and retail tenants include Sticky Fingers, Port City Java, Pink Azalea, Charles Schwab and Sully’s Steamers.
The mixed-use building was built in the early 1970s, expanded and renovated in the early 2000s and renovated again in recent years.
It has 200,652 total square feet, including 154,273 square feet of office, 20,138 of retail and 26,241 of residential.
Nearly 35,400 square feet are available, including 8,393 in the basement and 1,776 of retail, said David Feild, Colliers’ local market president.
The residential portion was built in 2003 and is made up of 22 apartments, including one-, two- and three-bedroom units.
Many capital improvements are planned, including for the main lobby, Feild said. New signage and lighting packages also are planned.
“There are a lot of plans that are going to be going forward,” Feild said. “The ownership really wants the message to be that this is new, this is a new owner that is very tenant-satisfaction driven, that this is an owner that is going to improve the asset, improve the property and thus improve the tenant experience.”
It is the second major downtown property to be sold recently.
An ownership group, including Greenville-based RealOp Investments, bought the 15-story Bank of America building in downtown Greenville for about $22.5 million.