Business Briefs - March 23, 2023

$51M sale: Gildan activewear sells distribution center 

 

According to records filed with the Berkley County Recorder of Deeds, Gildan Activewear completed the sale of its distribution center, together with adjacent acreage, to SRE EV 1980 Clements Ferry, LLC, a Delaware Corporation, for $51 million. SRE EV is a real estate investor.

 

The distribution center and property is located at 1980 Clements Ferry Rd., where it intersects with Jack Primus Road. The new owner is a real estate investor. The building was constructed in 1998 and was previously occupied by Mikasa. Gildan plans to continue operations from the location.

 

According to a statement accompanying the release of its 2022, sales were up and the company is optimistic regarding 2023. 

 

“I am extremely proud of our team’s record performance in 2022 with revenue up 11% over 2021 and strong margin delivery in every fiscal quarter” said Glenn J. Chamandy, President and CEO of Gildan. “And despite near term headwinds related to the economic environment, which impacted our performance in the fourth quarter and which may persist through the first part of 2023, we remain excited about the Gildan Sustainable Growth strategy, as well as our strong competitive positioning.” 

 

Cainhoy Sports Complex Amenity in the works at Point Hope

 

Point Hope community residents should soon have a community sports facility. According to DI Development spokesperson Julie Dombrowski, “The plans call for a mix of swim and racquet sport amenities, plus basketball and areas for social gatherings. It will be a private facility that is accessible only by residential owners at Point Hope.”

 

Plans for the sports complex amenity are currently making their way through the City of Charleston Technical Review Committee process. 

 

CBD store Spectrum Honey opens in Hardees shopping center

 

Three local residents recently opened a CBD store on Clements Ferry Road. Located at 2500 Clements Ferry Rd., next to Tokyo Express, Spectrum Honey is owned by Michael Rogers, Nicolas Arbuckle and Pamela Snipe-McCloud. 

 

According to the company’s website, Spectrum Honey products are made from all-natural honey without any additives or fillers, infused with pharmaceutical-grade CBD and sourced within South Carolina. Their pharmaceutical-grade CBD is grown and processed by Bright Ma Farms in South Carolina and the hemp is grown 100% organically, their website claims.

 

Rogers spent most of his career as a chef. He has an eye for quality in locally sourced sustainable products and has been an advocate for supporting local farms and helping local businesses.  

 

Arbuckle is a lifetime restaurant professional with a heavy influence in bar products and mixology. He’s a lifetime advocate for cannabis and its many holistic medicinal uses. 

 

Snipe-McCloud, a Mount Pleasant native, is a license cosmetologist with 33 years’ experience, 25 of those years as a salon owner. She brings her skills as an entrepreneur, an educator, and a passion for helping others in need.