A fully leased shopping center in a small but fast-growing Lowcountry town has been sold just weeks after it made its debut.

An affiliate of Stockbridge Capital Group recently bought the Publix-anchored Moncks Corner Marketplace for $29.15 million, according to Berkeley County land records.

The deal worked out to about $400 a square foot.

The seller was Branch Properties, which began developing the 9-acre retail site along U.S. Highway 52 at Cypress Gardens Road in mid-2021. The Atlanta-based real estate investment firm is still handling the marketing and leasing of the property.

David Nix, managing director for acquisitions at Stockbridge, said Moncks Corner is “one of the fastest-growing submarkets” in the Charleston region. Several thousand homes are planned for areas in and around the county seat in developments such as Foxbank Plantation.

“Given its optimal location within a short distance to many of Charleston’s job centers and several surrounding master-planned residential communities, the area poses strong demographics,” Nix said.

He also described the fully occupied Moncks Corner Marketplace and other strategically located grocery store centers as “further proof of the demand for this type of e-commerce-resistant retail.”

The 72,300-square-foot property opened in September. About six months earlier, Stockbridge announced a deal to buy a dozen Southeast retail centers from Branch Properties that include Publix and rival supermarket chain Harris Teeter as their primary traffic draws.

The San Francisco-based private equity firm has been investing in commercial real estate in the Charleston area since at least 2013, when it paid $24.6 million for the Whole Foods-anchored Patriots Plaza in Mount Pleasant. The deal was one of the region’s first big retail acquisitions in the aftermath of the so-called Great Recession.

In 2018, Stockbridge added an industrial property to its portfolio when it bought the nearly 351,000-square-foot North Pointe Business Campus on North Rhett Avenue for $30.5 million.

The following year, the firm acquired the historic S.H. Kress & Co. on King Street, in the heart of the downtown Charleston shopping district. Stockbridge paid $19.5 million for the roughly 91-year-old mixed-use art-deco structure that includes “fast fashion” clothing retailer H&M and a law firm as its main tenants.

Nix said the Charleston region “continues to be an attractive market for Stockbridge,” citing the area’s population growth, expanding port and other favorable real estate investment attributes.

A chemical firm is shutting down a Moncks Corner plant that makes the raw material for products like water bottles and packaging, leaving 125 workers without a job.

DAK Americas LLC — a subsidiary of Monterrey, Mexico-based Alpek — will permanently close its plant along the Cooper River that producsd PET resin, a type of polyester that’s derived from petroleum.

Layoffs will begin on April 28 and will conclude by the end of the year when the plant shuts down, according to a statement from Ricky Lane, the Charlotte company’s director of public affairs, trade relations and corporate communications.

DAK Americas said it will be moving production from Bushy Park to another unidentified site. The Berkeley County plant, which was built in the early 1970s, had the capacity to make 170,000 pounds of the resin annually.

“This difficult decision was necessitated as we optimize our assets to remain competitive in the challenging global polyester markets,” Lane said in a letter to the S.C. Department of Employment and Workforce.

That letter stated that DAK Americas “will formally and permanently close production operations on March 1, 2023.”

Lane, in an email to The Post and Courier, said March 1 represents the beginning of the plant’s shutdown and that the process will take at least 60 days to complete.

“It may be helpful to understand that these production operations are not like a light switch and cannot just be turned on and off,” Lane said. “These are highly technical polymer processes that must be stopped in a very systematic manner that takes many days/weeks to accomplish. Only after the 60-day period and once the shutdown process is complete for employees in their area of work will the written notice of individual layoff dates be given.”

The company said the shutdown will save it about $20 million a year.

Parent company Alpek said in a written statement that it is “constantly exploring ways to create value through optimization of its installed capacity and strengthening its cost competitiveness.”

The company said it plans to grow “through more efficient utilization of its assets.”

The closure notice was filed with state officials a day before Jorge Young Cerecedo took over as CEO of Alpek. Cerecedo, who has been with the company for 32 years, also will remain president of Alpek’s polyester division, which accounts for two-thirds of the parent company’s revenues.

Alpek acquired the Moncks Corner plant in a 2001 deal with DuPont, which was exiting the polyester market. Alpek created its DAK Americas subsidiary to operate the South Carolina site and other factories.

The planned plant closure comes less than two years after DAK Americas cut 200 full-time jobs and 40 contract workers at the Cooper River site as it wound down its polyester staple fibers business. The company blamed the decision on a flood of cheap imports.

Alpek, which is publicly traded on the Mexican Stock Exchange, reported revenues of $10.6 billion in 2022 — an 37 percent increase from the previous year — and net income of $789 million. It has more than 7,000 employees at 35 plants in nine countries.

Note: This story was updated March 6 with additional comment from the company.

Treating patients during life altering and life threatening events takes a unique disposition, when optimism is in short supply and the patients keep coming.

May is Trauma Care Awareness Month. But what draws people to trauma care? It may be to experience the highest of health care highs when someone is brought back from near death. But it also comes with the lowest of lows.

Britney Ward of Moncks Corner has worked at Trident Hospital for close to 12 years. As she led the way to the trauma center, her unusually fast walking style offered a hint to her energy and her constant sense of urgency.

“I did ICU for four years and we would get the trauma patients after they stabilized them. I just remember my first trauma patient,” said Ward, an RN at Trident’s Trauma Center. “He was really hurt and very sick and very young. I just remember thinking about what it was like when he first rolled in. I’ve always loved trauma.”

Based on numbers provided by Trident Medical Center in North Charleston, in 2022 the medical center treated 2,127 trauma patients. Since the level II trauma center opened in 2016, there have been 14,000 patients treated.

“We get some bad ones, some very bad car accidents. We see people on their worst days,” said Ward. “Then when we do help them and they do get out of here, it is really nice to see that progress. It doesn’t always happen. But the ones that we do save — it’s very rewarding.”

The trauma center with all its wheeled apparatus, wires and various tones and dings obviously serves those with critical needs. More patients are treated for trauma at Trident Medical Center than any other hospital in the Lowcountry, according to information provided by the center. The three most common causes of trauma treated are related to falls, motor vehicle accidents and gunshot wounds.

“Anything car accidents, gunshots, stabbings. Anything,” she said. “It could be just a bad accident at work where they cut their arm. … Kids mess me up the most.”

And then there’s the crisis COVID put on the profession for years to come.

“I was here in for COVID and it was horrible,” Ward said. “If you want to know how things changed, it was COVID. It just changed nursing all together. I think it messed a lot of people up, nobody knew what was going on. We were just really scared.”

Ward and all the other trauma care providers are obviously very much appreciated by those they treat. They are providers you never think you’ll need — until you do.

Maybe a Trauma Care Awareness Month is needed — dates set aside to remind people about something no one ever wants to ever think about.

The Berkeley Independent recently reported on the future of the Moncks Corner YMCA and the unconfirmed chatter about its future. Officials with the branch offered up some answers, now confirming the facility’s future is certainly, uncertain.

According to an emailed response from Ryoko Abbott, the Greater Charleston YMCA’s Marketing Director the site is not closing or up for sale — yet. But said if the facility is sold, the Monck’s Corner branch will be closed.

“We do not have any detailed date or timeline at this point. Since 2009, the YMCA of Greater Charleston has made several attempts to provide a meaningful and safe YMCA experience to the community residents of Berkeley County,” the response stated.

“This effort [Moncks Corner branch] has seriously challenged the financial capabilities of our organization. Currently, the Berkeley County Family YMCA is in need of substantial improvement which our organization is unable to provide. As a result of these challenges, and following much discussion and deliberation, the Board of Directors and staff management team of the YMCA of greater Charleston have decided to sell the Berkeley County Family YMCA facility.”

The Berkeley County Family YMCA opened in 1994 and since then, according to its website, it has strived to provide low cost programs for families. The Berkeley County YMCA serves over 3,000 members and program participants in Berkeley County.

The facility provides a variety of Health and Wellness services for infants to senior citizens. With the indoor swimming pool in Berkeley County, this YMCA provides educational lifeguard courses and training, senior citizens water aerobics, swim programs for local elementary schools and a variety of other services which promote the health and wellness of the entire community.

As far as the community is concerned, Abbott states the YMCA will make sure Berkeley is served if something does happen in the future.

“For the current Berkeley County Family YMCA members, arrangements have been made to grandfather all current YMCA members into our YMCA facility at Cane Bay for a term of one year effective on the closing date of this property,” the email stated. “In addition, YMCA youth sports, fitness and other YMCA programming, will continue throughout the Berkeley County community in various satellite locations. Every effort will be made to provide current staff members an opportunity to continue their service with our organization.”

And all is not lost just yet. Moncks Corner residents may not have make the long commute to Cane Bay to get in their physical fix. There are some other plans that may be in the works, but it’s still early in the game.

“The YMCA of Greater Charleston is considering offers from developers that may result in a partnership with a new amenity for the Moncks Corner Community,” Abbot notes. “No decisions have been made at this time. Our intention is to continue to have a high level go service in the Moncks Corner, Berkeley County Community.”

MONCKS CORNER, S.C. (WCSC) - For the first time in seven years, homeowners and landowners in Moncks Corner will see a 15 percent property tax increase starting on October 1.

At the Moncks Corner Town Council meeting Thursday evening, the vote for a new budget was passed unanimously with only one member of the public providing input.

The economy, fuel prices and labor costs are all contributing factors according to Mayor Michael Lockliear, but the main reason for the increase is to afford and pay public employees.

“Retention has been very tough over the last year keeping employees,” Lockliear said. “Since other people are paying more around us, we had to step up and do the same thing.”

The tax hike means a homeowner with a property valued at $250,000 will have to pay $100 more per year on property taxes. Statistically, it is normal to increase taxes by about two-percent each year.

Berkeley County Sheriff’s Office Special Prosecutor Tyler Jenkins was the only one who asked a question during the public input portion of the meeting.

“My real question as far as the millage rate, 15 percent in one year seems like a pretty high number,” Jenkins said. “Was there any discussion about why that wasn’t incrementally put into place?”

In response, Lockliear said this is the first time in seven years that the city has had to increase property tax, which he is very proud of.

“We did it so we wouldn’t have to come back in two years and do it again,” Lockliear said. “As a resident of Moncks Corner, I’d much rather be taxed one time now and then another time in 10 years or so, but not every two years.”

Every year, the city government meets for a budget workshop where they go through the department by department and cut what is needed for a balanced budget. This year, Lockliear said they were short about $325,000 with the more expensive costs coming from health care and retirement benefits to public employees

“With that being done, it put a big dent in our budget,” Lockliear said. “That’s why the millage increase came and hopefully it will take us through the next six to seven-eight years.”

The new budget takes place from Oct. 1, 2022, until Sept. 30, 2023. Operating revenues will increase from $12,417,159 to $15,622,744 and operating expenditures will increase from $14,151,802 to $15,363,175.

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