Summit Real Estate Group plans to invest $28.6 million toward development of a 350,000-square-foot speculative building in Richland County’s Pineview Industrial Park.
The building will be developed on an approximately 34-acre site at Bluff and Longwood roads in order to lease to a prospective business. County Council approved the parcel’s sale at its March 1 meeting and on May 17 approved a 30-year fee-in-lieu-of-tax agreement with St. Louis, Missouri-based Summit.
With the impending development, Richland County continues to aim to meet demand for further growth at the industrial park.
“Council is thrilled that the team at Summit Real Estate Group sees the same potential in the Pineview Industrial Park that we do,” said County Council Chair Overture Walker. “The construction of a state-of-the-art facility makes it easier to find a prospective company to call Richland County home.”
Over the past 10 years, the County has purchased 991 acres for the industrial park. Of that available space, the County has sold 412 acres to developers. The industrial park is home to fiberglass manufacturer Jushi USA, Miwon Specialty Chemical USA Inc., and Mark Anthony Brewing, the maker of White Claw hard seltzer.
Summit plans to start construction at the site later this year.
“We’re excited to add to the continued development of Pineview Industrial Park,” said Summit Real Estate Group partner Mark Billeaud. “With the recent success of Mark Anthony, Miwon and Jushi USA, we hope that Pineview Trade Center, a 350,000-square-foot Class A building, will help attract another great company to Richland County. We believe Columbia is well positioned in the Southeast to offer industrial businesses great access to major interstates, the Port of Charleston and a strong labor pool.
“Our aim is to bring a company with high job-producing potential to the area, leading to a win-win for everyone involved in Richland County,” Billeaud said.
About 80 percent of all industrial searches focus on available buildings, at least initially. To help market the speculative building to manufacturers scouting locations, Summit has developed a series of online tools, including an online video and an aerial 360-degree rendering of the facility.