An international digital networks integrator has expanded into South Carolina, leasing space owned by Cleveland-based commercial real estate owner and developer Weston Inc. in Lugoff.
Sterlite Technologies leased 168,000 square feet at 2 Business Parkway on property owned by Weston, which expanded its S.C. portfolio in February with the purchase of three vacant industrial properties in the greater Columbia market.
Sterlite’s 5G-ready digital network provides end-to-end technology solutions for companies worldwide and will help expand high-speed internet access in rural areas in South Carolina, according to a news release.
Colliers | South Carolina’s Chuck Salley, Dave Mathews, Thomas Beard and John Peebles represented Weston in the 10-year lease. Colliers has also represented Weston in industrial leases at several Columbia locations, including two to China Jushi.
“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,” Salley said in a news release from Colliers. “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.”
Weston, which owns more than 220,000 square feet in 80 properties nationwide, has around 7 million square feet in assets in South Carolina, making it one of the largest private industrial landlords in the state.
“We are thrilled to be a part of Sterlite’s expansion into South Carolina,” said Eilleen McConville, asset manager for Weston. “The Sterlite team was a pleasure to work with, and 2 Business Parkway is an excellent building to accommodate Sterlite’s new facility and fulfill the initiative of the Broadband Accessibility Act.”