Business

March 12, 2014

Chinese firm buys SouthPark building, moves U.S. workers

A Chinese coal firm has bought a SouthPark-area building, the Charlotte Chamber said Wednesday, and will create 60 jobs as it moves its U.S. operations to Charlotte.

A Chinese coal firm has bought a SouthPark-area building, the Charlotte Chamber said Wednesday, and will create 60 jobs as it moves its U.S. operations to Charlotte.

The office building, at 6201 Fairview Road, is adjacent to SouthPark mall. The Daniels Co., a U.S. subsidiary of the Beijing Guohua Technology Group, plans to relocate 30 engineers and managers from Bluefield, W.Va., a town of 11,000, to Charlotte.

The company also plans to hire about 30 employees locally and create a manufacturing facility for coal-processing equipment in Charlotte.

“Charlotte’s proximity to ports, available engineering talent, favorable cost of living and vibrant growing economy made it a great choice for our firm’s headquarters,” Jimmy Yu, vice president of Beijing Guohua Technology Group, said in a statement.

Trinity Partners brokered the sale for the building’s owner, real estate investment trust The Lionstone Group. The Daniels Co. will occupy 7,800 square feet of the building, and Trinity Partners will lease and manage the property.

“With SouthPark’s occupancy tightening significantly over recent months, the sale presented the ideal investment opportunity for the Daniels Company,” Dunn Mileham, Trinity’s broker, said in a statement.

The sale price was not disclosed. The building has a tax value of more than $11 million.

The Chinese company has made its mark in the Chinese coal-fired power plant boom of recent decades. Beijing Guohua Technology Group has built more than 500 facilities to process coal in China since it was founded in 1998. The group bought the Daniels Co. in November 2012.

The company is the latest Chinese firm to move operations to the Charlotte region. In December, a Chinese textile factory said it plans to build a yarn factory employing 500 workers in Indian Land, S.C. And last month, a state TV station in China profiled Charlotte and the Carolinas as good new places to set up shop in the U.S.

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