North Myrtle Beach lands industrial park in latest sign of economic boom

A swath of woodland in North Myrtle Beach is the latest sign of a maturing economy in one of America’s fastest growing regions.

Within a year and half, the 69-acre site along Water Tower Road is set to host 700,000 square feet of industrial and manufacturing space, with amenities suitable for warehouse assembly line operations.

Once complete, the Palmetto Coast Industrial Park will add to Horry County’s growing number of sites aimed at attracting large-scale business investment.

The park’s development is managed by Edgewater Ventures, a Raleigh-based commercial real estate firm.

The 718,350-square-foot Palmetto Coast Industrial Park is expected to be fully operational in late 2024 along Water Tower Road as the region’s first to include “Class A” building pads — traditionally a harbinger for big-name businesses.

Edgewater Ventures, a Raleigh-based commercial real estate firm, is developing the complex — its first in South Carolina and region’s only business park to feature “Class A” industrial buildings constructed up to 32 feet high, drive-in doors for truck shipping, space for up to 60 trailers and a sprinkler system necessary for stacking and warehousing.

Buildings in the park vary in size from 157,500 square feet to 217,350 square feet.

“No one’s ever built this type of facility on a speculative basis in Myrtle Beach, so we’re kind of taking a little bit of a chance on the market,” Norvell said. “It’s really a fast-growing market, and every fast-growing market needs a certain amount of industrial to handle global distribution and operation needs.

It’s unknown whether a company code-named Project Cook — set to bring 146 jobs as part of a $15 million investment within city limits — will locate inside the site.

The project also brings more large-scale commercial activity to the Water Tower Road area, where UPS recently opened an $11.5 million distribution site about a mile from the park.

Located about a mile from UPS’ $11.5 million distribution hub , the 69-acre park has already drawn interest from potential clients, officials told The Sun News Dec. 12.

In recent months the region has seen multi-million commitments from trans-global firms DC BLOX and FedEx along with a flurry of high-profile retail openings, including two Publix supermarkets.

A manufacturing gateway

Located two hours from Charleston, an hour from Wilmington, N.C. and within 20 minutes of the Myrtle Beach International Airport, the property’s centralized location is expected to make it an attractive option for corporate investment.

“I think what we’re seeing is that these companies are recognizing that North Myrtle Beach is a good city for them to do business in, it’s a good city to live in, and the location of this park is very convenient,” Mayor Marilyn Hatley said.

According to project marketing materials, the park is located within 10 miles of 51,000 households and double that number of residents — bringing more potential jobs close to the city.

Horry County’s top employer is the public school system, with 5,540 employees. Walmart is second with 3,000 workers.

Sandy Davis, president and CEO of the Myrtle Beach Regional Economic Development Corporation, said a business park situated between other major southeastern hubs puts the area in play for successful long-term growth.

“The Palmetto Coast Industrial Park will be a significant recruiting tool for the Horry County area,” Davis said.