Clinton - Business show "interest" in building deal
Letter of Intent on Clinton’s New “Spec” Building.
Friday, July 26, 2019
The Clinton Economic Development Corporation this week approved a Letter of Intent with a company now referred to as “Project Earnest.” The company has an interest in acquiring the “Spec Building” now in construction in Clinton’s 26-East industrial park. CEDC Director Marvin Moss told WLBG that the letter of intent is an agreement that Clinton is willing to work with the company interested in acquiring the Clinton spec building. Moss said the company behind “Project Earnest” should send a contract for consideration to Clinton, “perhaps in the next couple of weeks.
Questioned by WLBG, Moss said this company would use the new spec building as a distribution center. He noted that should this follow through to completion, this will be the third spec building in Laurens County to be sold before it’s completion. The first spec building in Clinton’s 26-East Commerce Center was acquired by General Electric before it was finished. A spec building in Laurens’ Hunter Industrial Park was recently purchased for use as an industrial baker for the Muffin Mam. So, the new spec building in Clinton may become the third spec building sold before even being finished. Should this letter of intent not lead to a sale, Moss noted there are other companies also interested in it.
Moss told WLBG that a six-acre retail pad has just been prepared on the new frontage road along I-26 in Clinton. He noted it’s ready for use for a new motel. He noted comparisons with exit 54 on I-26 in Clinton with another exit in Orangeburg, where multiple hotels have located. He noted that with a motel locating at the cite, there is a probability that a restaurant would also be constructed there.
In other business this week, the Clinton Economic Development Corporation selected a proposal from Upstate Insurance Consultants of Clinton as the choice to provide liability coverage for properties owned by the CEDC. These include the spec building and Clinton Phase III, which is property around Eastside Elementary School.