Wells Fargo Center, Greenville, SC

FRI purchased the $27M distressed senior note on Wells Fargo Center in Greenville South Carolina for $17M and immediately foreclosed on the asset taking title. The asset, having just lost its anchor tenant was 49% occupied at acquisition. FRI saw an opportunity to reposition the property, leveraging in-house leasing and construction expertise. Over the next three years, FRI implemented a $7.6M renovation and leasing plan. FRI executed over 90,000 SF of leases and successfully repositioning the asset as the market leader in downtown Greenville, stabilizing the property at 95% occupancy, increasing the NOI by over 170%. FRI sold the asset in 2016 completing a successful roundtrip transaction.

Tenants:
     F.B.I

Located in the vibrant downtown market, at the corner of South Main and Washington streets, Wells Fargo Center encompasses most of a city block. This 10 story office tower currently 80% occupied. Recently renovated and expanded, Wells Fargo Center consists of 158,000 square feet of office space, 20,000 square feet of retail space and 22 luxury apartments, which surround a courtyard.

Galleria and Office Building

An impressive galleria entrance invites visitors and tenants into the office building. With patterned granite floors, outstanding artwork, impressive lighting and comfortable seating all contribute to a Class A standard building.

Retail Space

Sticky Fingers anchors the retail at the corner on South Main Street, with outdoor seating on the street and in the courtyard; the restaurant offers a high quality menu for lunch and dinner. Pita Pit offers a quick take out and customers and tenants can enjoy Port City Java with the morning newspaper in the courtyard, with a great cup of coffee and a pastry. A hair salon and gift shop provide employees with a good array of amenities.

Apartments

Above the retail space on South Main and Washington Streets are twenty-two outstanding apartments. Designed for the young professional who desires an urban lifestyle, these residences are upscale, with balconies overlooking either South Main Street or the Courtyard. Significant features include ceiling fans, casement windows and balconies overlooking the street or the courtyard. Beautiful lighting packages and stone floors in the kitchen and bathrooms round out these desired urban properties.

Parking

Office tenants, residents and visitors of Wells Fargo Center will enjoy abundant covered parking and reasonable rates in the brand new parking deck directly behind the property. The City has built this deck as an additional contribution to the vitality of downtown Greenville and Wells Fargo Center.