Jul
06

201 Foot High Industrial Building Sold in Charleston

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jacobs buildingAn obvious buyer has snapped up one of the more intriguing pieces of commercial real estate in the Lowcountry, a mammoth property with a long manufacturing heritage. The new owners see no reason to break with tradition at the former Jacobs Applied Technologies tract along the Cooper River near Goose Creek.

“We’ve always had our eye on that facility,” said Marc Fetten, CEO of Pacolet Milliken Enterprises Inc.’s Cooper River Partners unit, owner of the adjacent Bushy Park Industrial Complex.

The company’s latest acquisition in that neck of the woods comes almost a year after Jacobs began to close its 94-acre Berkeley County fabrication business as work ran dry. The $7 million sale closed Wednesday.

“It does a couple of things very quickly for us,” Fetten said. For starters, Cooper River Partners can promote all or part of an existing 400,000-square-foot, 201-foot-tall colossus. The hulking, cube-shaped structure is visible from the Ravenel Bridge on a clear day.

“We can take a huge amount of covered space to the market, which desperately needs manufacturing space that’s ready-built,” Fetten said Thursday. “That is certainly always a big advantage.”

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