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Hughes Development buys Bank of America building

By Liz Segrist
Published Jan. 25, 2013

Three developments within two blocks are set to make a major impact on downtown Greenville’s office real estate market.

Greenville-based Hughes Development Corp. and its investors recently purchased the Bank of America Plaza at 101 N. Main St. in downtown Greenville for $9.8 million, said Robert Hughes of Hughes Development Corp. Tic Properties Management, along with other investors, sold the property to Bob Hughes, president of Hughes Development Corp.

Hughes Development plans to upgrade the Bank of America building and bottom floor retail space for future tenants, as well as to complement Project One and the city’s renovations of Piazza Bergamo.  Hughes Development is also considering the development of a high-rise on the parking lot at Washington and Richardson streets, but there are no definite plans in place yet.

Hughes’ revamping of the Bank of America Plaza, ongoing construction of its Project One development and future plans for the former Windstream Corp. building across the street will significantly impact two city blocks of prime real estate — along East Washington Street between Richardson and Brown streets — in downtown Greenville.

“It’s too early to say when renovations will begin or what they will look like. We’re looking at a lot of different options,” Hughes said. “We consider that area the premier area for business in downtown Greenville.”

The 15-story Bank of America building could house some of the tenants that weren’t able to secure space in Project One. It currently has three vacant office floors. It has roughly 196,000 square feet, according to Tic Properties’ website.

Hughes Development Corp. also owns the former Windstream Corp. building at 2 N. Main St., the red brick building across the street from Project One. Windstream announced earlier this year plans to consolidate its office space in downtown Greenville, vacating 88,000 square feet and moving into the Landmark Building at 301 N. Main St.

Hughes plans to lease some of the space while it defines a full-fledged redevelopment plan for the building.

“We’re in the process of figuring out the best use of that site long term,” Hughes said. “We view that site as the best redevelopment site in downtown Greenville.”

Hughes’ Project One development, currently under construction at Main and Washington streets, is nearly leased as tenants clamor for space in Greenville’s newest high rise.

Tupelo Honey Cafe and Smith Moore Leatherwood are the latest tenants to sign on for the development, built on the site of the demolished Woolworth Building. They will join Anthropologie, CertusBank, Haynsworth Sinkler Boyd and Clemson University, among others.

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