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Commercial property purchase may spur growth in North Charleston

Boeing's recent acquisition of 20 acres worth of property in North Charleston is a signal that the aircraft manufacturer is looking to expand existing operations. According to reports, the company purchased a series of three office buildings, representing a total of 178,000 square feet of commercial real estate.

Right now, Boeing manufactures jetliners at a facility adjacent to the recently purchased office space, which could indicate that the company is looking to expand operations in South Carolina. This acquisition could be a great economic benefit to the Charleston community.

Boeing already leases space in the office building, so purchasing the property is a sign that the company would like to solidify its presence in the area. This move comes shortly after Boeing has already expanded production at their North Charleston plant.

A spokesperson for the company noted that they don't have exact details as to what will be done with the property, but they know they are planning ahead for growth. Knowing that the company intends to grow, the hope is that they took all necessary precautions to ensure that they will not run into issues with the property in the future.

Since Boeing is already dealing with nearly 260 acres worth of property in addition to the newly acquired property, making sure there were no issues with acreage was likely a concern during the transaction. Running into issues with inaccuracies surrounding the amount of land involved in a purchase can significantly delay a purchase or cause trouble for future construction. For a company with planning to expand, taking care of these details before the real-estate deal is completed can save a lot of time, money and stress.

Source: Puget Sound Business Journal, "Boeing adds property next to South Carolina plant," Steve Wilhelm, Dec. 5, 2012

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