GREENVILLE, S.C. — The adaptive reuse Markley Station project in Greenville’s West End has been named the March of Dimes 2019 Development of the Year.
Owned and redeveloped by RealOp Investments, Markley Station is a 43,732-square-foot reimagined warehouse space designed to be a community gathering place.
“The redevelopment of Markley Station was thoughtfully planned and executed with the foremost goal of honoring the past by retaining the structures’ historic characteristics while also providing a community gathering place for future generations,” said Paul Sparks, RealOp chairman and principal. “To have our efforts recognized by such an esteemed group of colleagues and professionals is a great honor.”
The March of Dimes (MOD) honors those outstanding individuals or companies whose commercial real estate activities and civic service have significantly enhanced the local community at its annual Greenville Real Estate & Economic Development Award Luncheon.
New this year, the March of Dimes Development of the Year Award was presented to a new development or re-development/adaptive reuse project that significantly enhances the community. Eligibility was based on its location within Greenville County and having broken ground or been completed between January 2019 and June 30, 2019.
The projects nominated for the 2019 award were voted on by attendees to the MOD Launch Party and the Leadership Team. Ultimately, Markley Station, was chosen as the recipient.
“The competition was tough as there were other deserving nominations,” said the MOD leadership team chairman Robert Benedict.
Markley Station, located at 116-120 Markley St., features seven tenants to date, including Hoppin’ (a modern sell-serve tap room), Urban Wren (a Greenville-based urban winery), Todaro Pizza (a Clemson-based, family owned pizza shop), Fortis Riders (chauffeur service), Beau Welling Design (a golf course and land planning group), Aluma Connect (a personal safety device company) and Adelphos Capital (an institutional investor).
The adaptive reuse project included a complete exterior preservation and renovation of the existing buildings, including new storefront windows, masonry restoration, new canopies over designated entrances, new code-compliant metal railings, installation of a new roof, exterior lighting, new center plaza with raised benches and landscape renovations, interior and exterior murals by local Greenville artists and construction of three adjacent parking lots.
Markley Station creates a walkable corridor and destination for pedestrians, drawing nearby residents and members of the community into an area long-neglected and infuses the area with physical energy, giving new purpose to these historic structures. It also may soon serve as a connector between the West End growth and the Unity Park project across Academy Street.
Benedict said the key considerations that led to this project’s winning the award include Markley Station’s acting as a catalyst for extending development in the West End beyond Main Street and serving as an anchor for other developments on Markley Street.
He said another consideration was how the many challenges of such a redevelopment were overcome.
“The adaptive use of endangered historic structures was successfully executed while respecting the integrity of the buildings,” Benedict said. “Although they were utilitarian structures, they possessed characteristics of Greenville’s industrial West End during the early part of the 20th century. It was a sensitive rehabilitation that retained the buildings’ character with a tenant mix that would complement the vibe of the WE Historic District.”
About RealOp Investments:
RealOp Investments is a commercial real estate investment company founded in 2009 specializing in value-add and opportunistic acquisitions. With deep roots in the Southeast, our investment strategy spans all commercial asset classes and is based on a relationship-driven pursuit of value; not only in identifying off market opportunities, but in creating value through innovative capitalization structures, management expertise and the execution of unique strategies tailored to each asset. The firm was named the 2019 Greenville Chamber Small Business of the Year, and one of the Top 25 Fastest Growing Companies in the state of South Carolina for 2018 and 2019. Learn more at www.realopinvestments.com.