Pacolet Milliken, LLC, and its wholly owned subsidiary Bushy Park, announced that Newport News Shipbuilding (NNS), a division of Huntington Ingalls Industries, has become a major tenant at Bushy Park in connection with NNS's acquisition of W International.
Bushy Park is a 1,530-acre industrial park located in Berkeley County just outside of Charleston, South Carolina.
The site is home to 10 different industrial and manufacturing companies.
NNS, headquartered in Newport News, Virginia, acquired W International, an advanced metal fabricator that has been a resident at Bushy Park since late 2018.
Officials said the strategic move strengthens NNS's position as a global leader in naval shipbuilding and defense technology.
NNS designs, constructs, and maintains nuclear-powered aircraft carriers and submarines, and has a legacy spanning over 135 years.
Operations at Bushy Park are expected to be largely unchanged.
W International employs approximately 500 people, and its campus consists of 45 acres and four buildings totaling 451,000 square feet, all within the larger 1,530-acre Bushy Park site.
"NNS' presence will undoubtedly contribute to the vibrant industrial community we are cultivating at Bushy Park," said Kent Fonvielle, president of Bushy Park.
With NNS' acquisition of W International, and Leonardo DRS's naval facility under construction at Bushy Park, Bushy Park will be home to two of the largest defense contractors supporting the U.S. Navy's shipbuilding program.
Leonardo DRS is building a $120 million manufacturing, integration, and test facility for U.S. Navy submarine propulsion systems at Bushy Park which is slated to be fully operational in 2026.
"The decision of Leonardo DRS to establish their operations here and NNS to acquire W International is a testament to the value and quality that Bushy Park offers," said William Crawford, CEO of Pacolet Milliken.
Crawford added, "Bushy Park's location, workforce availability, and unique existing infrastructure, including water access, make it an advantageous site for supporting these manufacturers."
Pacolet Milliken, LLC is a leader in the institutional management of private investment capital.
Headquartered in Greenville, South Carolina, Pacolet is a family-owned investment firm that owns and manages a diverse set of power and infrastructure and real estate assets located across the United States.
Pacolet Power & Infrastructure owns a diverse set of power, renewables and infrastructure assets, including a regulated electric portfolio, an industrial utilities company and a substantial solar and landfill gas portfolio.
Pacolet Real Estate has a national portfolio of industrial, multi-family, office, and retail properties, and currently focuses on multi-family and industrial warehouse development in the Southeast, the Southwest and Southern California.
Bushy Park provides a suite of utilities to its tenants such as steam, nitrogen, compressed air, electricity, natural gas, and process water in addition to available land.
The site supports logistics through an onsite rail line and barge slip.
Bushy Park is owned by Pacolet Milliken, LLC and is an important asset in the Power & Infrastructure Division.