Plans to Build Office in Mt Pleasant
Myrtle Beach, South Carolina, April 1, 2015 – South Atlantic Bank has secured land for a new branch in Mount Pleasant, executing a letter of intent on March 30 to lease a 1.36 acre parcel on Johnnie Dodds Boulevard. The site is in front of the Queensborough Shopping Center which is anchored by a Publix®. The owner of the property is an affiliate of Charleston-based Jupiter Holdings, LLC. The bank is represented in the transaction by Ben Kelly of NAI Avant Commercial Real Estate Services.
South Atlantic Bank has had a presence in the market since October 2013, when it opened a loan production office at 1127 Queensborough Boulevard. That location became a full-service banking office in August 2014, upon receipt of approvals from the FDIC and the South Carolina State Board of Financial Institutions.
The bank plans to build an 8,000 square-foot, two-story facility to house the full-service branch on the first floor, with space for tenants on the second floor. Ground breaking will take place later in 2015, and construction is expected to be completed in 2016.
In making the announcement, K. Wayne Wicker, South Atlantic Bank chairman and chief executive officer, said, “We have found an excellent location for our permanent home in Mount Pleasant. While the new building will be just minutes away from our current office, customers will find its central location even more convenient. The new office will feature the latest in technology provided in a warm and welcoming atmosphere with a strong emphasis on customer service. We are looking forward getting the construction underway this year and moving into the office sometime in 2016,” he said.