Binswanger Secures 15-Year Lease of a 340,000+ Square-Foot Industrial Plant in Sumter, SC
SUMTER, SC – June 7, 2023 – Binswanger, an innovator in commercial real estate since 1931, today announced that it has secured two solar panel and wafer manufacturing tenants for a 15-year lease of the industrial property at 1150 Clipper Road in Sumter, SC.
“On behalf of the Landlord, Lucky Property Management, we are pleased Solar4America and SEM Wafertech, Inc. decided to choose the Clipper Road facility for their new east coast operations,” said Binswanger Senior Vice President and Partner, Shaun Kirchin who brokered the deal. “The availability of this great building, good labor pool, and proximity to the Port of Charleston all played a role in S4A and SEM locating in Sumter. They will be a great asset to the community.”
Located on 100 acres, the approximately 341,891 square-foot former metal fabrication facility was renovated in 2022 with new LED lights and the removal of interior walls. The Landlord plans further tenant-specific renovations prior to their occupancy.
“Binswanger has been instrumental in our success over the past decade in various markets across the U.S.,” said Carlos Velasquez of Lucky Property Management. “Their expertise, dedication, and commitment to achieving our market objectives have been invaluable to our growth. We look forward to continuing our partnership with them in the future.”
SEM Wafertech Inc. and Solar4America Technology Inc.—both owned by the global renewable energy company, SPI Energy Co. Ltd.—will share the new facility which will help meet an increasing need for locally sourced solar wafers as the demand for solar power continues to grow in the U.S. In combination with its facility in Sacramento, CA, the South Carolina facility will allow Solar4America to manufacture a wider variety of solar panels, with operations expected to begin in the fourth quarter of 2023 and capacity to increase to 2.4 gigawatts by 2024.
The South Carolina Coordinating Council for Economic Development provided tax credits for the 300 new jobs and $65.9M capital investment the project expects to create for residents in addition to a $1.5 million Rural Infrastructure Fund (RIF) grant to Sumter County.
“Congratulations to Solar4America and SEM Wafertech, Inc for choosing Sumter, SC, and this facility as its new east coast home,” said Jay Schwedler, President and CEO of the Sumter Economic Development Board. “These deals are often complicated, with many moving parts, and it takes real communication and relationships to make them a reality. The City of Sumter, Sumter County, and the State of South Carolina all played an integral role in facilitating solutions to the infrastructure needs of the company.
“This partnership, along with Binswanger working diligently through the real estate details were all critical in getting this site location to the finish line. We appreciated Shaun Kirchin’s diligence in securing the lease, and for bringing the prospect to our attention.”
Binswanger, a global leader in full-service commercial real estate, has been helping its clients realize their full real estate potential since 1931. Founded by real estate innovator and pioneer, Frank Binswanger Sr., the company operates with the understanding that real estate can strengthen businesses and transform communities. The company offers a variety of services benefitting both owners and occupiers including global real estate brokerage, location consulting, investment sales, tenant representation, corporate advisory, strategic consulting, and a variety of management services. Having worked with more than half of the Fortune 500, the employee-owned company has long been known as the industry leader in the acquisition and disposition of industrial and commercial facilities around the globe. For more information, please visit www.binswanger.com.