Former restaurant on Haywood Road retail corridor to become dental office.
Greenville, SC – The 8,500-square-foot building at 600 Congaree Road, a former Rafferty’s restaurant, was sold for $965,000 and will be redeveloped as an upscale dental office. Colliers International’s Frank Hammond, CCIM, CPM, represented the seller, Duck Shack Real Estate Partners, in the sale.
“This is a great example of the idea that good real estate is always good real estate,” said Hammond, Senior Principal of Colliers International | South Carolina. “While the Haywood Road retail corridor is experiencing the effects of recent trends in retail, such as the announcement of the Toys ‘R’ Us closing, the adaptable use of this property is an example of how a great location with strong demographics will reinvent itself.”
Hammond should know, as he and Colliers | South Carolina have witnessed a rise in unique, aging or otherwise challenging buildings that nonetheless benefit from a desirable location and key demographics get purchased and adapted for an entirely new user. Hammond represented sellers for buildings like a former BILO-anchored center adapted for a major non-profit's headquarters and a dark AutoZone retrofitted for the City of Greenville’s Parking Services office.
“What worked out really well in this deal was that both the location and the building had value for the buyer,” added Hammond. “The Rafferty’s restaurant was successful there for 20-plus years, and it’s a good sign that we were able to find someone who could use the space in a totally new way.”
Hammond specializes in retail, disposition, site selection and land brokerage for Colliers International.