On Dec. 3, ZZ Acquisitions LLC, an affiliate of InterTech Group Inc., foreclosed on Carolina Nurseries in Moncks Corner, S.C. The Post and Courier reports that InterTechg Group, an industrial conglomerate, had no interest in maintaining ownership of the 686-acre nursery operation. The newspaper said that the nursery had received a $12 million loan from ZZ Acquisitions in March 2009.
Berkeley County City Council had considered borrowing the money to purchase the property, but council members rejected that proposal.
Robert Johnston of InterTech Group told the paper that his company is talking with interested parties about selling the nursery as is and keep it operating or sell off its inventory of millions of plants. Most of the nursery is currently zoned for agricultural use with a portion zone for heavy industry.
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