The City of Aiken lists historical Hotel Aiken for sale with Colliers
August 7, 2024
The City of Aiken, South Carolina has contracted Colliers to sell the Hotel Aiken and nearby parcels through a public request for proposals, aiming to meet the City’s evolving needs. To ensure the property is sold to the right developer, the City has engaged Tommy Tapp, CPM and Alia Bostaji, CHA from Colliers | South Carolina along with Mark Owens from Colliers’ U.S. Hospitality Practice Group.
“The City’s goal is to revitalize a vital part of its historic downtown area to address increasing housing and hospitality demands while preserving Aiken’s local identity,” said Aiken Mayor Teddy Milner. “The availability of the Hotel Aiken and neighboring parcels offers an exciting opportunity for developers to contribute to Aiken’s ongoing growth and prosperity, and we look forward to determining the best possible future for this important corner of Aiken’s vibrant downtown.”
“The City of Aiken is pleased to partner with Colliers on this critical downtown revitalization project,” said Aiken City Manager Stuart Bedenbaugh. “We are confident that Colliers will help the City identify the right buyer for these properties and will preserve their historic value while updating with modern amenities to benefit our citizens, businesses and visitors.”
The offering on Richland Avenue includes redevelopment opportunities for a ±28,406-square-foot historical hotel site and ±34,313 square feet of additional retail space on ±1.36 acres. These parcels are located along Richland Avenue between the main thoroughfares of Newberry Street and Laurens Street, about four miles from the USC Aiken campus and within walking distance of Aiken’s top food, shopping and entertainment hotspots. The hotel also stands to benefit from annual tourism attracted by the nearby Augusta National Golf Club, where the Masters Tournament takes place less than 20 miles away. The City purchased Hotel Aiken and the adjacent parcels in 2021 to achieve various strategic goals, such as restoring unused historical sites and enhancing their appeal for the growing population and tourism.
Click here to sign up to receive updates on the sale opportunity for the Hotel Aiken.
For 125 years, Hotel Aiken has been a prominent feature of downtown Aiken. It anchors and dominates one end of the most significant commercial block of the City of Aiken along Laurens Street between Park Avenue and Richland Avenue.
Tapp, a seasoned commercial real estate professional; Bostaji, a specialist in developmental land and hotel investment sales; and Owens, a well-connected expert in the national hospitality market, will collaborate closely with the City to ensure a smooth transaction. Their collective expertise and understanding of the market will help align the sale and restoration of Hotel Aiken with the City’s vision and goals. Tapp, Bostaji and Owens offer clients expert guidance and innovative strategies to meet their real estate objectives. With a strong emphasis on client satisfaction and market insight, the team is committed to providing exceptional service and delivering outstanding results.
About Colliers
Colliers | South Carolina is the largest full-service commercial real estate firm in South Carolina with 66 licensed real estate professionals covering the state with locations in Charleston, Columbia, Greenville and Spartanburg. Colliers is an Accredited Management Organization (AMO) through the Institute of Real Estate Management (IREM) and is the largest manager of commercial real estate properties in South Carolina with a portfolio of over 23 million square feet of office, industrial, retail and healthcare properties. Colliers’ staff hold the most professional designations of any firm in South Carolina. Colliers | South Carolina’s partner, LCK, provides project management services for new facilities and renovations across South Carolina.
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 66 countries, our 19,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. With annual revenues of $4.3 billion and $98 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people. Learn more at corporate.colliers.com, X @Colliers or LinkedIn.
