Houston-based developer enters SC market

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A Houston-based real estate developer has acquired industrial property in the same center as Sea Fox Boats.

Welcome Group, which specializes in single-tenant manufacturing, lab, warehouse and distribution facilities, has purchased 31 acres in Moncks Corner, the company’s first acquisition in South Carolina.

The expansion is part of the firm’s push into high-growth markets in the Southern region, the company said in a press release.

The Moncks Corner property is located at 2250 U.S. Highway and includes a 201,500-square-foot manufacturing and distribution center that is anchored by Sea Fox Boats. The facility brings Welcome Group’s portfolio to 126 industrial properties totaling a collective 6 million square feet.

“When it comes to the industrial market, the Charleston area is one of the hottest in the Southeast,” said 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.”

Beyond the Moncks Corner property, Welcome Group said it will continue to seek out opportunities to purchase existing occupied properties in South Carolina, North Carolina and Georgia.