RealOp Investments and Terra Capital recently partnered to acquire and operate the Park East and Park Central office facilities in Greenville, South Carolina.
“We take great pride in partnering with a dynamic and well-respected leader like Terra,” Kyle Putnam, RealOp’s chief investment officer, said. “Our experience, market knowledge, relationships and focus on maximizing asset value throughout the hold period, was instrumental in establishing this partnership.”
The office complex is 570,000 square feet, and includes 12 buildings and two office parks. The facility is 3 miles from downtown Greenville and less than 1 mile away from Interstate 85’s Park East region near the Interstate 385 corridor.
RealOp will collaborate with the complex's management and leasing partner, NAI Earle Furman, to rebrand, update, and reopen the office facilities. Their plans are designed to raise market awareness as well as improve portfolio profitability.
“We are excited to be involved with these properties and believe there is a tremendous opportunity,” Chip Hunt, director of Investment Management at RealOp, said. “A number of physical and brand improvements are already in progress. We look forward to sharing these initiatives with existing tenants and the market in the coming year.”