Central Square at Watermark to be New South Atlantic Headquarters for Mediterranean Shipping Company

Charleston, SC (July 2007) – The Beach Company is pleased to announce that Mediterranean Shipping Company (MSC), the second largest container carrier in the world, has finalized plans to locate its South Atlantic corporate headquarters at Central Square at Watermark in Mount Pleasant. This expansion will double the size of the current workforce, bringing the total number of employees to 400 with 95% hired locally, and the company’s facilities will also more than double, increasing to 45,000 square feet. This is the third time MSC has chosen to expand in the Charleston area, and this particular expansion represents a $7 million capital investment.

Mediterranean Shipping Company S.A. of Geneva, Switzerland is a privately owned shipping line that was founded in 1970. The company has rapidly grown from a small conventional ship operator to become one of the leading global shipping lines of the world.

"On behalf of everyone at The Beach Company, we thank MSC for choosing to locate their South Atlantic headquarters at Watermark and look forward to their upcoming occupancy," said John C. L. Darby, President and CEO of The Beach Company. "This opportunity would never have come to fruition if not for the vision and tremendous efforts of the Mount Pleasant Town Council, its Economic Development Committee and the Mayor and town staff, all of who worked together with the Charleston Regional Development Alliance and the Department of Commerce to create an ideal situation to attract and retain corporate users such as MSC. It was the Town's idea to convert this land from residential to economic development, and The Beach Company is pleased to have been able to assist in the Town's success."

The Beach Company, founded in Charleston in 1945, has honored a tradition of responsibility and excellence in providing top quality real estate products and services for communities, businesses, industries and most importantly, families across the Charleston Lowcountry and Southeast Region.

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