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South Carolina Receives $100M Investment

Kirco, a commercial real estate developer based in Michigan, has purchased 126 acres in the Carolina Pines Industrial Park near Blythewood, South Carolina. The State newspaper of Columbia, S.C., reports that Kirco paid $2.2 million for the tract of land and will invest $100 million to develop 2 million square feet of light industrial/distribution space. Construction on the first spec building of 184,000 square feet is scheduled to begin in early 2008. The total number of buildings to be constructed is not yet firmed up, but the report says that buildings of up to 850,000 square feet can be accommodated. The land is the last undeveloped property in the industrial park and was previously owned by the Sony Corporation.