SC: Charleston International Manufacturing Center Acquires Jacobs Facility
15 Jul, 2016
The Charleston International Manufacturing Center (CIMC) at Bushy Park, a wholly owned subsidiary of Pacolet Milliken Enterprises, is pleased to announce the acquisition of a 94-acre facility that is located adjacent to CIMC in Goose Creek, SC. The facility was acquired from Jacobs Engineering Group, one of the world’s largest providers of full-spectrum technical, professional and construction services for industrial, commercial and government organizations globally, who had owned and operated the module assembly and pipe fabrication facility since 1998.
Regarded as one of the most sophisticated module assembly facilities in the world, the Jacobs property consists of 400,000 square feet of under roof in 6 different buildings, 800,000 square feet of open-air assembly, 94 total acres of land, an array of welding, assembly, blasting, painting and handling equipment, as well as a barge slip and rail access. It has the capacity to construct up to 75 barge-size modules or 130 truck-size modules simultaneously in a controlled environment and has served a broad spectrum of markets, ranging from heavy refining and petrochemical modules to high purity, Class 1000 pharmaceutical clean room work.
“The acquisition of the Jacobs property fits perfectly with our growth strategy for the newly rebranded Charleston International Manufacturing Center,” said Marc Fetten, president and CEO of Cooper River Partners. “Not only does it expand our facility footprint, but it allows us to bring prime industrial, warehouse and distribution space to the market immediately, which is in high demand in Charleston. Plus, the property’s logistical offerings of a dock, rail access, large capacity cranes and shuttle lifts mean we will not need to duplicate those assets. This aligns perfectly within our sustainable approach of minimizing environmental impacts.”
With the acquisition, tenants of CIMC will now be able to ship goods easily via truck, rail or barge on the Cooper River which is only 12 miles from the Port of Charleston. Tenants also have access to all of CIMC’s unique infrastructure services that supply utility commodities like steam, compressed air, process water, refrigeration, wastewater treatment and many other services. The facility also has 24-hour security, medical services and emergency response on site. Providing these services means that tenants do to not have to invest in these services individually, giving them the opportunity to preserve their capital for higher priority needs and go to market sooner with new production.
“Pacolet Milliken is committed to the continued growth of CIMC and feel that this acquisition will further the center’s position as one of the premier industrial sites in the world and increase the economic development of this region of the state,” said Ralph Walker, executive vice president of energy for Pacolet Milliken.
CIMC is currently home to 8 global manufacturers who collectively have invested over $1.2 billion and created hundreds of jobs. The products made at CIMC are used by most people every day, including ingredients for sun screen, pigments, film and fragrances, as well as products for underground electrical transmission that are used in our nation’s energy grid.
The Jacobs property facilities will open up CIMC to a new market of tenants that are in need of short-term assembly or modular construction, warehousing, distribution or other types of manufacturing, or those that need access to a clean room facility. “We now have the ability to provide modular fabricators specialized space for the duration of a specific job rather than burdening a job with the cost of ownership. We have already generated some interest from the space, nuclear and marine industries,” said Fetten.
“Berkeley County is excited that Pacolet Milliken has acquired this incredible site and will continue to work with Cooper River Partners to bring industry, investment and jobs here,” said Berkeley County Supervisor Bill Peagler. “The unique location – offering industry significant opportunities with rail and barge access to the Port of Charleston – is a tremendous site for our County’s Economic Development Team to offer to potential industry, and our longstanding relationship with Cooper River Partners only adds to our positive outlook that an industry will make an investment and create jobs here in the near future. Berkeley County is grateful for our industrial partners with whom we ensure Berkeley County is at the forefront of economic development, and Berkeley County is particularly grateful for the longstanding partnership with Cooper River Partners and Pacolet Milliken.”
The Bushy Park Industrial Complex was recently rebranded to become the Charleston International Manufacturing Center (CIMC) at Bushy Park, which aligns well with the addition of the Jacobs property and the added inventory, assets and services that the complex will be able to provide manufacturers.
About Pacolet Milliken
Pacolet Milliken Enterprises, Inc. is a private, family-owned investment company founded in 2007 by the shareholders of Milliken & Company with a forward-looking mission to secure and grow high-quality assets with enduring value in the energy and real estate markets. For more information, please visit www.pacoletmilliken.com.