GREENVILLE -- The historic Hampton Station complex has sold for about $11 million to a Charlotte investment firm promising changes for the beleaguered mixed-use property that has seen a stream of tenants leave.
Abacus Capital acquired the repurposed textile warehouses in a joint venture with Collett, a global commercial real estate firm. The 80,268 square-foot complex, which was built in 1919 and renovated in 2016, lies just northwest of the downtown Greenville.
Hampton Station had served as the home of Birds Fly South Ale Project brewery and White Duck Taco Shop, two mainstays that were the highest-profile departures over the past year.
In a news release, Abacus said it plans to upgrade outdoor areas, address deferred maintenance and enhance other aesthetic features around the property. It also intends to "restore the project's creative energy" by bringing on new leasing and property management teams to attract more food-and-beverage tenants.
"While the legacy asset benefits from a favorable name recognition and familiarity within the right demographics in the local marketplace, we believe there is a great opportunity to continue to enhance and uptier the quality of the asset over our hold period," Wes McAdams, Abacus Capital managing partner, said in the release.
The project was brokered by Avison Young, which led leasing, property management and the sale of the site, said Gary Lyons with the firm.
"We're pleased to attract a new-to-market investment firm with a strong track record such as Abacus and look forward to seeing Hampton Station continue to evolve into the ultimate live-work-play destination," Lyons said in the release.
Prior to the announcement of the sale, the engineering, procurement and construction firm Isomer Project Group announced it would move into a portion of the former Birds Fly South space in 2025. It's currently headquartered at The Commons at Unity Park.
Also joining the mixed-use redevelopment will be a new, 2,085 square-foot location for The Game Show Challenge. Created in Columbia by the owners of an escape room business, The Game Show Challenge is an interactive game show-like experience in which friends and family can engage in various competitions.