Sterlite Technologies signs 10-year lease at Weston-owned manufacturing facility

Columbia, SC, August 4, 2021

Colliers | South Carolina’s Chuck Salley, SIOR, Dave Mathews, SIOR, Thomas Beard and John Peebles represented Weston Inc. in a 10-year, 168,000-square-foot lease for Sterlite Technologies at 2 Business Parkway in Lugoff, SC.

 

Sterlite Technologies (STL) is an industry-leading integrator of digital networks; its fully 5G-ready digital network solutions help telcos, cloud companies, citizen networks and large enterprises deliver enhanced experiences to its customers. STL provides integrated 5G ready end-to-end solutions ranging from wired to wireless, design to deployment, connectivity to compute through core capabilities in Optical Interconnect, Virtualised Access Solutions, Network Software and System Integration.

 

“Sterlite’s expansion into South Carolina is a direct response to the need for access to fiber optic 5G networks throughout the United States that was exposed during the COVID-19 pandemic,” said Salley. “In September 2020, the South Carolina General Assembly passed the Broadband Accessibility Act with the goal of expanding high speed internet access to hundreds of thousands of people in rural areas. Sterlite’s presence in the state will help to meet this goal.”

 

2 Business Parkway is part of Weston’s Southeast Industrial Properties portfolio. Weston is a Cleveland-based commercial real estate owner and developer with nearly 7 million square feet in assets in South Carolina, making it one of the largest privately held industrial landlords in the state. For more information on Weston’s Southeast Industrial Properties portfolio, please visit www.southeastindustrialproperties.com.

 

“We are thrilled to be a part of Sterlite’s expansion into South Carolina,” said Eilleen McConville, Asset Manager for Weston, Inc. “The Sterlite team was a pleasure to work with and 2 Business Parkway is an excellent building to accommodate Sterlite’s new facility and fufill the initiative of the Broadband Accessibility Act.”

 

Salley, Mathews, Beard and Peebles are the leading industrial brokerage team in central South Carolina, specializing in leasing, user sales and investment sales of industrial properties. Their multifaceted platform gives them a unique insight into market conditions for all types of industrial properties.

About Colliers International

Colliers International | South Carolina has over 150 staff members, including 65 licensed real estate professionals, covering the entire state with locations in Charleston, Columbia, Greenville and Spartanburg. Total 2019 brokerage volume exceeded $419 million, which included over 452 sales and leasing transactions. In addition to traditional commercial real estate representation services for our clients, the company is actively engaged in Corporate Solutions and Healthcare Services. Colliers International is an Accredited Management Organization (AMO) through the Institute of Real Estate Management (IREM) and is the largest manager of commercial real estate properties in South Carolina, with a portfolio of nearly 14 million square feet of office, industrial, retail and healthcare properties. Colliers International’s staff hold 44 professional designations, the most of any firm in South Carolina. Colliers | South Carolina’s partner, LCK, provides project management services for new facilities and renovations across South Carolina.

 

Colliers International (NASDAQ, TSX: CIGI) is a leading real estate professional services and investment management company. With operations in 68 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. For more than 25 years, our experienced leadership, owning approximately 40% of our equity, has delivered compound annual investment returns of almost 20% for shareholders. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn.

About Weston, Inc.

As one of the region’s largest privately held industrial property owner and developer, Weston owns a national industrial real estate portfolio of approximately 22 million square feet serving over 750 tenants. For nearly 50 years, it has exhibited experience and expertise in the areas of building ownership, development, acquisitions, facilities management, tenant services, financing, and leasing. Since its inception, Weston has been a leading choice of businesses with a distinctive vision of their real estate goals who seek flexible, practical solutions to their space needs offering a broad spectrum of commercial real estate services including acquisition, leasing and management services.

For further information and media inquires please contact:

Elizabeth Riley, CPMC

Marketing Manager

Colliers | South carolina

Tel. +1 803 401 4250

Liz McCary

Vice President, Marketing

Colliers | South carolina

Tel. +1 803 401 4269

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