Lowe Enterprises recently acquired 176 and 186 Concord St., the current Charleston location of the South Carolina Ports Authority (SCPA) offices and Fleet Landing restaurant.
“We were attracted to this property because of its irreplaceable waterfront location and the strength of the Charleston hotel market,” Dan Battista, Lowe Enterprise’s senior vice president of development in Charleston, said in a statement. “Lowe has been active in the Charleston community for over two decades. We look forward to continuing our longstanding connection with Charleston’s visitors and residents through the extension of Waterfront Park and the creation of a world-class waterfront hotel.”
The new hotel Lowe plans for the area will be a full-service, high-end property. Lowe’s extension plan for Waterfront Park will help maximize the area for the benefit of the public.
“We are pleased to see Lowe Enterprises close on the sale today,” South Carolina Ports Authority President and CEO Jim Newsome said. “We are grateful for their persistence and diligence and wish them the very best in their endeavors. They are a first-class organization and will be a great partner for the city. This is an exciting time for the SCPA as we shift our focus now to the development of our new building which will bring us closer to our operations and all of our staff."