CH Realty Partners has successfully secured a $50 million loan to refinance their industrial facility in the Greenville-Spartanburg market. The 150,000-square-foot facility, located at 260 Midway Dr. Union, South Carolina, was specifically built for bio-tech company MycoWorks and will now be refinanced through a partnership with 3650 REIT. This refinancing will allow MycoWorks to expand its production capacity.
The facility serves as the central hub for MycoWorks’ innovative use of mycelium – a mushroom-based material used as an alternative to leather. Their proprietary Fine Mycelium platform has revolutionized materials by creating a new class that is considered the next evolution in mycelium.
Constructed in 2023 on a spacious 25-acre lot, this state-of-the-art facility was designed with careful consideration of MycoWorks’ unique manufacturing needs. Utilizing cutting-edge technology such as robotics, digital analytics and artificial intelligence allows for an automated production process that accounts for up to 80% of operations while still producing high-quality materials at scale.
Not only does this impressive plant contribute greatly towards advancing biotech innovation within South Carolina’s economy but it also provides over three hundred fifty jobs within the City of Union alone.
