OXCO, Inc., a light manufacturer and supplier of nonwoven materials, is moving their manufacturing headquarters to Lakemont Business Park in York County, South Carolina. The Charlotte-based company, currently located in a 79,000-square-foot building at 500 Gulf Drive in Charlotte, has plans to relocate to a new 150,000-200,000-square-foot facility on approximately 21 acres in the business park, which is located in just across the state line in York County, South Carolina.
With the approval of various incentives from York County and the state of South Carolina, OXCO is working on plans to commence with the development of their new location in 2017, once access to the site is complete, according to a press release from developer MPV Properties.
C.T. Chu, President of OXCO, said that, “Given our company’s success and growth in recent years, and therefore our need for a larger facility, we’re delighted to be planning for a move to York County, South Carolina. The attractive incentives offered by the county and state, and the convenient location with access to Interstate 77 for our employees, distributors and clients alike, made the move an easy decision.”
Lakemont Business Park received renewed interest in 2012 when Lakemont Property Investors LLC acquired approximately 200 acres to develop the final phase of the park. With assistance from York County and York Electric Company, Lakemont Property Investors extended Lakemont Boulevard to the east, terminating in a cul-de-sac near Interstate 77. Subsequently, an additional street off Lakemont Boulevard, named Steele Point Drive, was constructed, also terminating in a cul-de-sac. Upon completion of the extended road infrastructure, overseen by MPV Properties LLC on March 4, 2015, approximately 15 acres was sold at a price of $75,000 per acre for the development of an Ashley Furniture distribution center.
Most recently, on Sept. 29, 2016, Lakemont Property Investors sold an approximately 21-acre site to Kings Street Investments LLC at a price of $75,000 per acre. Jeff Meier and his brother Erich Meier, owners of OXCO Inc. are managing partners of Kings Street Investments.
Bailey W. Patrick, a managing partner at MPV Properties, represented the seller, and Jeff Harper of CCRA Associated with Walters Commercial Real Estate Services LLC represented the buyer in this transaction.
“We are thrilled to have OXCO coming to the park to join the Ashley Furniture distribution center, and are excited to be in discussions with other potential users for the five remaining sites within the park, which are available for sale ranging in size from approximately 15 to 60 acres,” said Bailey Patrick, in the release.
OXCO currently employs 55 full-time and 16 part-time employees. OXCO plans to commence construction of their new facility mid 2017, upon the completion of the Kings Ridge Drive extension from Steele Point Drive, which will be complete by spring of 2017 according to the developer, MPV Properties.
The Ashley Furniture distribution center was developed by Alan Lewis of The Keith
Corporation, and constructed by Choate Construction. The extension of Lakemont Boulevard was developed by MPV Properties and constructed by Hoopaugh Grading Company LLC. Steel Point Drive was developed by MPV Properties and constructed by Choate Construction and Blythe Development Co.