Auro Hotels Acquires the Bowater Building in Greenville

News Summary

Auro Hotels has acquired the Bowater Building in Downtown Greenville, known for its iconic location near Liberty Bridge and Falls Park. The acquisition signals potential development plans as the area prepares for exciting transformations. Currently underutilized, the 92,960-square-foot office building is set to be reimagined by Auro Hotels, a company already established in the local hospitality landscape. Local residents and real estate enthusiasts are eagerly awaiting more details on the future of this landmark site.

Exciting Changes Ahead in Downtown Greenville

Downtown Greenville, known for its beautiful parks and vibrant atmosphere, just received some thrilling news! Auro Hotels, a local hotel operator and builder, has officially acquired the iconic Bowater Building, located at 55 E. Camperdown Way. Nestled right next door to the stunning Liberty Bridge and the scenic Falls Park, this strategic purchase is bound to have a significant impact on the area.

What’s in Store for the Bowater Building?

The total area of the property spans approximately 2.4 acres, housing a sizeable 92,960-square-foot office building alongside a spacious 346-space parking garage. While details about the future plans for the site remain under wraps, Auro Hotels has expressed its intention to reimagine this landmark location. Speculation is swirling about what could come next, but for now, it seems we’ll have to wait for an official announcement.

A Little Background

The Bowater Building, which has stood since 1990, is currently experiencing a low occupancy rate of only 22.6%. Before Auro Hotels took the reins, the property belonged to WCM Global Wealth, a local financial services firm. The sale became a hot topic in the commercial real estate world, with CBRE, a Greenville-based agency, marketing it back in October 2023. It was a competitive bidding process, with pricing estimates ranging in the low to mid-$40 million.

More Than Just Hotels

Auro Hotels has established a solid presence in the hospitality sector, not just in Greenville but across several states including South Carolina, North Carolina, Georgia, Florida, Virginia, Illinois, and even overseas in India. Currently, the company operates five hotels and six food concepts right here in Greenville alone! This acquisition is sure to enhance their portfolio, bringing even more excitement to the local economy.

What’s Next for Downtown Greenville?

The Bowater Building isn’t just another office space; it’s located in an area bursting with development energy. It sits near several significant projects, including the Camperdown complex and the luxurious Grand Bohemian Lodge Greenville. With so many developments around, it’s safe to say the attention is on this portion of downtown.

Auro Hotels is planning a news conference once the design process is complete, so interested locals can expect to hear more about what exciting transformations are on the horizon. In the meantime, the community will be buzzing with speculation about what could possibly replace the underutilized office space. Will it be a trendy new hotel? Perhaps a fresh dining option that locals have been dreaming about? The possibilities are endless!

Final Thoughts

Change is in the air for Downtown Greenville, and the acquisition of the Bowater Building is just the beginning. With Auro Hotels stepping into the spotlight, residents will be eager to see how this landmark location is transformed to serve the community better. Stay tuned for more updates, because it seems that the future is bright for Greenville!