A developer of mid-market hotels acquired an office building in the center of Greenville, South Carolina’s tourist district and could redevelop the property into a new hospitality destination.
Auro Hotels paid $31.3 million for the former headquarters of paper and pulp manufacturer Bowater at 55 E. Camperdown Way, according to the company. The seller was Centennial American Properties.
Falls Park on the Reedy River and the Liberty Bridge, a pedestrian-only bridge that crosses the river, two of downtown Greenville’s main tourist attractions, are both a short walk from the former Bowater headquarters. Other high-end hoteliers have already been attracted to the site, as a 187-room location of Grand Bohemian Lodge is next to the Bowater building.
“With its prime location adjacent to Falls Park and the Liberty Bridge, we see tremendous potential to create something extraordinary for our community,” Auro Hotels said in a statement. “We’re looking forward to a thoughtful design process that will ensure our vision complements and enhances downtown's vibrant atmosphere.”
The Greenville-based hospitality company said it will provide more details on its plans later.
The four-story, 92,960-square-foot Bowater building has been occupied by several tenants in recent years. Clemson University, the law firm Maynard Nexsen and commercial real estate brokerage Colliers all previously leased space at 55 E. Camperdown Way.
Auro Hotels has developed hotels operating under several brands, including an AC Hotel by Marriott, Embassy Suites, Hilton Garden Inn and Residence Inn. Auro Hotels has also acquired properties, including its $26 million purchase of the Courtyard Orlando Airport hotel in Orlando, Florida, last year.
For the record
Rhett Craig, Charles Gouch, Tripp Sellers, Shelby Dodson and Blaine Hart of CBRE represented Centennial American Properties.