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Greenville's tallest building sold to local investors for $25M

Windstream building

The Windstream building, known to many as the Landmark building, sits 25-floors high at 301 N. Main St. in downtown Greenville. It's the tallest building in the city. Staff/Stephanie Mirah

GREENVILLE — The tallest office tower in Greenville has been sold in an eight-figure deal to local investors and plans are in the works to revitalize the property.

The Windstream building — more commonly referred to as the Landmark — on downtown's North Main Street changed hands on June 21 for $25.25 million.

The buyers were Capa Management, a local investment company helmed by NAI Earle Furman broker and shareholder Gaston Albergotti and his brother-in-law, and Appian Investment Services, a similar investment company owned by NAI Earle Furman.

"We will be announcing renovation plans as it's in much need of some improvements," Albergotti told The Post and Courier on July 1. "We'll be making significant improvements to the building as well as announcing a whole rebrand of the building."

He said additional details will roll out in the next several weeks.

The more than 357,000-square-foot structure at 301 N. Main St. opened in 1973. Today, telecommunications company Windstream is one of the largest occupying tenants and has the naming rights.

The Landmark was more than 75 percent occupied at the time of purchase, with multiple leases being signed while it was under contract and after the deal closed, Albergotti said.

The buyers were attracted to the building because of its location, history associated with downtown Greenville, the city's plan to connect Main Street back to Heritage Green and the on-site parking, Albergotti said.

"We just think that it's a great bookend of downtown Greenville, and we're looking forward to revitalizing it and bringing it back into the conversation for downtown Greenville real estate," Albergotti said. 

The majority of the backers involved in the deal are based in Greenville or elsewhere in South Carolina.

Brokers Albergotti, Jake Van Gieson, Keith Jones and McNeil Epps all represented the buyers on the transaction. Albergotti also co-led the acquisition of the deal in his role with Capa Management alongside Appian. 

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Follow Stephanie Mirah on Twitter @stephaniemirah