Ecomelida Nabs SC Industrial Facility
- Mar 13, 2018
Ecomelida, doing business as Federated Enterprises, has acquired a 200,350-square-foot industrial building in Orangeburg, S.C., from Federal-Mogul Corp. Binswanger represented the seller in the transaction.
The asset is located at 2084 Rowesville Road, just eight miles from Interstate 26, 22 miles from Interstate 95 and roughly 70 miles from the Port of Charleston. Completed in phases in 1984 and 2000, the single-story property features a six-inch reinforced concrete floor, ceiling heights ranging from 18 feet and 4 inches to 28 feet and 10 inches, 10 dock-high doors, three drive-in doors and more than 300 parking spaces.
Federal-Mogul closed its doors in May of 2016 and the facility remained vacant since then. The new owner plans to expand the property by about 496,600 square feet. Ecomelida is the U.S. subsidiary of Zhangzhou Sanlida Environmental Technology Corp., a China-based importer and recycler of waste paper and plastic.
“The buyer is from China and plans to use the facility for post-consumer recycling of plastic and paper products,” Shaun Kirchin, vice president in Binswanger’s realty group south division, told Commercial Property Executive. “The company uses a lot of water for its recycling, and this property is connected to a large water line coming into the building.”
According to Kirchin, Ecomelida received tax incentives from the county and state. Additionally, Orangeburg County received a $750,000 Rural Infrastructure Fund grant to help with the cost of site preparation and building construction. The money will go towards the building’s infrastructure, including water, wastewater and electrical delivery systems.
Bringing jobs to the area
Operations at the plant are expected to begin by the end of the year and it is expected to bring more than 300 jobs to the area.
“The seller had an able buyer and was motivated to sell because it wants to see jobs come back in the area to offset jobs they took away,” Kirchin said. “They liked seeing it was going to a job creation project.”
Earlier this month, Binswanger represented Eliken Property Management in the disposition of 2200 South Business 45, a 1.5 million-square-foot Dallas distribution center. In February, the company represented Calare Properties in the acquisition of a 915,000-square-foot Connecticut mixed-use complex, from Bristol-Myers Squibb Co.
Image courtesy of Binswanger