One of Greenville, South Carolina’s most innovative business destinations has just been sold to a private partnership between a full-service operator and a family office.
The partnership has purchased Park 37 from TWO Capital Partners, an Atlanta, Georgia-based real estate developer, for $53.25 million. Stream Realty Partners, a national real estate services, development, and investment company, represented the owner in the deal. The 9-building office campus at the intersection of Interstates 85 and 385 was 76% leased at the time of sale.
Park 37–which includes buildings at 100, 150, 200, 250, 300, 400, 650, 700, and 750 Executive Drive–has undergone a massive repositioning over the years. The fully modernized and re-branded campus features a state-of-the-art fitness center, 8,000-square-foot conference center, tenant lounge, and on-site restaurant and catering kitchen. Keycard access systems and digital lobby directories are among the technology upgrades.
Just minutes from downtown Greenville and Greenville-Spartanburg International Airport, the property is across from Magnolia Park and offers easy access to Woodruff Road and the Verdae corridor.
“Highly amenitized office assets continue to see incredible investor demand in growing secondary markets as opportunities remain limited and market growth proves resilient,” said Jared Londry, Executive Managing Director of Stream Carolinas. “Greenville has really transformed over the past 18 months into a top-tier Sunbelt market as capital continues to target areas experiencing both population growth and job growth. Greenville’s dynamic and growing CBD, coupled with its affordability and business-friendly environment allow for it to benefit from the recent migration shifts out of major metro cities. We look forward to seeing the purchaser’s investment strategy take shape over the next decade.”
Londry, Senior Vice President Mack Freudenstein, and Senior Associate Alex Olofson of Stream Realty Partners represented the seller in the transaction.