News headlines that toy manufacturer Flybar, Inc. had purchased a building in Orangeburg are incorrect, project officials say.
Instead, the property was purchased by a New Jersey-based investment company. The CEO of Flybar is an investor in that company.
“1200 Jersey Avenue LLC was the buyer, a NJ-based real estate holding company,” said Hagood S. Morrison, vice president and principal of Bridge Commercial.
“Flybar is not involved, but the CEO of Flybar is an investor in that entity, which is what initially created the misinformation,” Morrison said in an email Friday.
Morrison identified himself in the email as working with the owner of the Flybar business.
Flybar CEO Saul Wolhendler said Friday, “We acquired the building because we felt like the Orangeburg market is an up and coming market being only 40 miles from the Port of Charleston. The other ports are having difficult times with logistics. We believe the suburban areas of Charleston will benefit. That is why we invested in that market."
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“It has nothing to do with my Flybar company,” Wolhendler said, noting the mistake was “unfortunate.”
“The broker saw my email address and thought that was what was happening. It is not. Flybar is not moving to Orangeburg,” he said.
Wolhendler said there are no specific investors or companies that have committed yet, but said the building would be good for distribution or manufacturing.
“We are showing it,” he said. “It is a really nice, quiet area with good amenities.”
Morrison noted potential end users will be working with the Orangeburg County Development Commission and the South Carolina Department of Commerce and will make any official future announcements through those agencies.
The initial announcement that Flybar had purchased the 361,526-square-foot former Orangeburg Aco Distribution and Warehouse building at 2500 Rowesville Road for $12.8 million was picked up by several media outlets.
The initial release said the company would occupy about 185,260 square feet of the facility, with the remaining portion leased to another tenant.
The announcement was made by real estate brokerage firm Colliers’ on Thursday.
Colliers declined any further comment on the matter Friday.
Reger Holdings purchased the building in May 2020 and made a number of improvements to the site, such as door repairs and the replacement of concrete rail loading docks, according to the release.
Colliers South Carolina represented Reger Holdings in the sale of the building.