Shaw Industries’ Fountain Inn facility Sold For $5.4 Million, Will Close In Four Months

Shaw Industries Group will apparently cease operations at its Fountain Inn facility.

Commercial real estate firm CBRE announced Monday, Dec. 18, it brokered the sale of a 183,000-square-foot industrial building, which sits on more than 63 acres at 110 Milacron Drive near Interstate 385. The building is occupied by Shaw, a flooring company that is based in Dalton, Ga.  A CBRE spokeswoman said she could not disclose the identity of the building’s current tenant, but confirmed the tenant plans to leave the facility in four months. The property’s new owner 844 S.E. Main plans to renovate the building and improve the parking lot and truck court surfaces in hopes of leasing it to a single user or selling it, CBRE said. Shaw said the facility was previously the headquarters for Anderson Hardwood Floors, which it acquired in 2007. The company said during the past 10 years the facility’s office personnel have moved to other Shaw locations as part of its integration of Anderson.

Shaw said the dozen or so associates still working at the facility are focused on storing raw materials and will be relocated to its operations in Spartanburg County. Records showed 844 S.E. Main is a limited liability company filed with the S.C. Secretary of State’s office. The company’s registered agent is Andrew Carroll. In the company’s filing, Carroll’s address is listed at 130 Parkway West in Duncan. United Tool & Mold is the current resident of that address. A representative for United Tool & Mold said Carroll is no longer with the company. Greenville County records showed ARE Holdings LLC previously owned the Fountain Inn property. ARE purchased the site in 2006 for $2.23 million. Taxes on the property were paid Dec. 12, records showed. CBRE said its agent Campbell Lewis represented 844 S.E. Main in the transaction. Marcus Cornelius and Nick Holstegge, also with CBRE, represented the seller.

According to CBRE, the building was constructed in 1980 and features 28-foot-high ceilings, motion-activated warehouse lighting, eight docks, 130 parking spaces, and nearly 27,000 square feet of high-end office space. “110 Milacron Drive was an attractive investment as it is strategically located less than a mile off I-385,” Lewis said in a statement. “The building features and design offer a lot of flexibility as it can appeal to both manufacturing and distribution users alike. There are only a few competing properties available in the I-385 submarket with vacancy rates at a record low of 4.5 percent as of Q3 2017. There has been a significant amount of interest from investors in rapidly growing secondary industrial markets like Greenville/Spartanburg. These investors are targeting higher yields than primary markets that still provide minimal risk.”

https://upstatebusinessjournal.com/shaw-industries-fountain-inn-facility-sold-5-4-million-will-close-four-months/

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