Charlotte, NC (January, 2017) — MPV Properties (MPV) is pleased to announce that
OXCO, Inc, a light manufacturer and supplier of nonwoven materials, is moving their manufacturing headquarters to Lakemont Business Park. The Charlotte-based company, currently located in a 79,000 SF building at 500 Gulf Drive in Charlotte, NC, has plans to relocate to a new 150,000-200,000 SF facility on approximately 21 acres in the business park, which is located 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.
C.T. Chu, President of OXCO, states 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/acre for the development of an Ashley Furniture distribution center.
Most recently, on September 29, 2016, Lakemont Property Investors sold an approximate
21 acre site to Kings Street Investments, LLC at a price of $75,000/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,” states Bailey Patrick.
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.
Ashley Furniture distribution center at Lakemont Business Park
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.
About OXCO, Inc.
Since 1994, OXCO has built a reliable reputation for delivering quality materials with the most reliable service in the industry, including films, wovens, knits, laminates, spunbond, needlepunch, stitchbond, spunlace, and other structures of nonwoven products. For more information, visit www.oxco.com.
About MPV Properties
MPV Properties is one of the Charlotte area’s leading office, industrial, retail and land brokerage, development, and management firms. For more information, visit www.mpvre.com.
This news was covered in the Charlotte Business Journal here: Nonwovens manufacturer to jump the state line to York County from Charlotte with 130 jobs