Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $22.5 million sale of and assisted in arranging $17.3 million in financing for Bank of America Plaza, a 15-story, 196,152-square-foot, iconic office tower in Greenville, South Carolina.
HFF marketed the property on behalf of the seller, Hughes Development Corporation. RealOp Investments purchased the asset and was assisted by HFF in securing the $17.3 million, floating-rate acquisition loan.
Bank of America Plaza is located at 101 North Main Street in downtown Greenville, which anchors ONE City Plaza in the center of Greenville’s award-winning Main Street. Other nearby amenities include Falls Park, Fluor Field, The Bon Secours Wellness arena and numerous dining and shopping options. The building was extensively renovated in 2014 and features direct connectivity to the adjacent Aloft Hotel and its WXYZ bar, as well as two parking structures on either side of the building. Additionally, tenants have access to a new fitness center complete with locker rooms and showers. Bank of America Plaza is roughly 80 percent leased to tenants, including IBM, Bank of America, iHeartMedia and Next on Main, a creative office hub that caters to Greenville’s entrepreneurial workforce. The ground-floor retail component of the building is home to Methodical Coffee, TAZ Boutique and the iStore, an Apple reseller.
The HFF investment sales team representing the seller was led by senior managing director Ryan Clutter, director Scot Humphrey, associate director Chris Lingerfelt and real estate analyst Zach Drozda.
“Bank of America Plaza is an exceptionally well located office building in the heart of downtown Greenville, South Carolina, one of the more dynamic markets in the state,” commented Clutter. “Investment capital was attracted to the asset’s compelling features and the notable economic growth occurring in Greenville. We anticipate steady demand for Greenville investment opportunities in 2017 and beyond as the region continues to post favorable trends appealing to investors.”
HFF’s debt placement team was led by senior managing director Travis Anderson and director Brent Bowman.
About RealOp Investments
RealOp Investments is a commercial real estate investment firm based in Greenville, South Carolina, primarily focused on value-add and opportunistic real estate investment opportunities located in the Southeastern United States. The management of RealOp has a combined industry experience of over 100 years and collective participation in over $9 billion of various transactions. RealOp and its affiliates have approximately $200 million in assets currently owned, managed and/or operated.
About HFF
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.
