Commerce recruitment efforts strongly impact South Carolina’s commercial real estate market
COLUMBIA, S.C. – January 5, 2011 – The South Carolina Department of Commerce announced today that its 2010 recruitment efforts have resulted in the sale or lease of over 5,000,000 square feet of available industrial space in 2010. “This activity is yet another measure of the success of the Department of Commerce and its economic development allies at the local level. The sale or lease of five million square feet that has been sitting empty significantly impacts the state’s commercial real estate market. Most importantly, this measure directly translates into new job opportunities and new tax base for the local community, which will benefit these areas for years to come,” said Joe Taylor, Secretary of Commerce. Some examples of the commercial space purchased or leased during 2010 as a result of Commerce’s recruitment efforts include:
- The former Worthington Steel building located at 1345 Hall Spencer Road in York County has been sold to Supermetal Structures Inc. The company specializes in the manufacture and installation of structural steel intended for commercial or industrial buildings. The company’s $6.6 million investment is expected to generate at least 125 new jobs. This project required 160,624 square feet of industrial space.
- The former SKF facility located at 1084 International Place in Aiken County has been sold to MTU Detroit Diesel. Last month, MTU Detroit Diesel officially opened its new manufacturing facility, which will build Series 2000 and Series 4000 engines. The company anticipates its total investment to reach $45 million and expects to bring 250 new jobs to Aiken County over the next four years. This project required 302,668 square feet of industrial space.
- The former Hanes/Sara Lee facility located at 520 SC Highway 576 in Marion has been sold to ACAS Landing Gear Services. ACAS Landing Gear Services, a full-service repair and overhaul company with extensive capabilities to service a variety of aircraft, announced its intention invest $5 million to establish a new facility in Marion County that will create up to 300 new jobs. This project required 144,000 square feet of industrial space.
- Industrial space previously occupied by KEMET at 210 Fairview Street in Fountain Inn will now become the home of SAATI Americas new manufacturing operations. SAATI Americas Corporation, a wholly owned subsidiary of Italy’s SAATI Group S.p.A., will establish its new U.S. Composites and Protection division operations and certain distribution operations in Greenville County. SAATI’s investment is expected to generate more than 80 new jobs within the next few years. This project required 251,353 square feet of industrial space.
- The former Yanagawa building located at 1878 Joe Rogers Blvd. in Manning was sold to the Treleoni Group. Treleoni Group is a start-up business that will manufacture non-woven products for specialty industrial markets. The company plans to invest $7.75 million and create 100 new jobs. This project required 110,225 square feet of industrial space.
- The former Bosch Rear Brakes building located at 1 Corporate Way in Sumter was sold to the Kaydon Corporation. The Kaydon Corporation will expand its manufacturing presence in Sumter County with an $8.9 million investment that is expected to generate 75 new jobs. This project required 178,288 square feet of industrial space.