Archive for Manning
The 37,980-square-foot King Shopping Center in Manning has been sold to Garnet Properties LLC, Colliers International said.
A sales price for the retail property on West Rigby Street was not announced. The property was listed for $800,000 on Loopnet. The asking cap rate was 8.72%
The shopping center is 100% occupied with 11 tenants and is situated on a 2.2 acre site.
Lowe’s Home Improvement Stores Inc. is one step closer to bringing a store to Manning as City Council approved second and final reading of an ordinance that would re-zone property designated for the Development District to general commercial. The step, Mayor Kevin Johnson said, was the last requirement the city had before Lowe’s could close on the property. The company is expected to do that later this month.
“I think that we as a council have made it clear that we’re looking forward to Lowe’s coming to Manning,” Johnson said. “We are looking forward to their competitive prices and we have not liked to see our taxpayers going to Sumter for these things. We like them to spend their money here.”
ARTICLE SHORTENED DUE TO LENGTH….
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November 19, 2008
A plan by the Manning City Council to give $900,000 to help lure a Lowe’s Cos. Inc. home improvement store — and with it 75 jobs — has been criticized by local retailers who say it will hurt their businesses and force them to cut workers.
“They’re giving a multibillion dollar company almost a million dollars to come here,” Tad Graham, owner of Geddings Hardware in Manning, told The Sumter Item. “If they wanted a bigger hardware store, they could have given that money to some of the local businesses and helped us expand.”
Manning Mayor Kevin Johnson said the Mooresville, N.C.-based retailer asked City Council for help with the cost of removing an old Wal-Mart building where Lowe’s wants to build.
“We saw it as an opportunity to provide, as Lowe’s told us, about 75 full-time jobs, with full benefits, and 25 part-time jobs,” Johnson said. “It will cost them over a million dollars to tear down the old Wal-Mart, which is an eyesore for all of us.”
Last year, the Legislature approved, over the governor’s veto, a law to lure large retailers to South Carolina through sales tax incentives. At the time, Gov. Mark Sanford said giving one retailer a tax break for moving to an area gave them a benefit over other retailers.
“We’re not going to second-guess local decisions,” Sanford spokesman Joel Sawyer said in an e-mail statement Tuesday. “But we do question anyone providing incentives to retail establishments …”
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