Houston's Welcome Group Enters South Carolina with Acquisition of Moncks Corner Industrial Property

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Feb 14, 2022, 16:20 ET

CHARLESTON, S.C., Feb. 14, 2022 /PRNewswire/ -- Welcome Group, the Houston-based, single-tenant real estate developer specializing in manufacturing, lab, warehouse, and distribution facilities, has acquired its first South Carolina industrial property in Moncks Corner, part of the firm's expansion into the state and other high-growth markets throughout the southeast U.S.

Located on 31 acres at 2550 U.S. Highway 52, the 201,500 square-foot manufacturing and distribution center is home to Sea Fox Boats, third-generation boat builders specializing in the design and development of center-console recreational boats.

"When it comes to the industrial market, the Charleston area is one of the hottest in the southeast," says Ted Kakambouras, director of acquisitions, southeast region for Welcome Group. "It checks all the boxes – great demographics, job growth, cost of doing business and one of the best ports in the country."

South Carolina ranked sixth among all U.S. states in Site Selection Magazine's just-released 2021 list of the top states for business.

Kakambouras adds Welcome Group will continue to look for opportunities to acquire existing occupied properties in South Carolina in addition to North Carolina and Georgia.

Welcome Group now owns a diverse portfolio of more than 130 industrial properties spanning more than 6 million square feet. Tenants range from Fortune 500 companies to emerging entrepreneurial ventures in manufacturing, healthcare, energy, technology, warehouse and distribution, and other operations.

Financing for the acquisition was provided by City Bank. Brokerage services were provided by Matt Smith of CBRE.

About Welcome Group
Welcome Group is a leader in the development and ownership of single-tenant industrial facilities for some of the world's most respected names in business and currently owns over 6 million square-feet in Texas and the southeast U.S. The company also offers build-to-suit and design-build services for interested firms and is actively seeking direct purchase and sale-leaseback opportunities throughout Texas and the southeast United States. For more information visit welcomegroup.com.

SOURCE Welcome Group