The Carolina Nurseries property near Moncks Corner changed ownership today at a Berkeley County foreclosure auction.
No competing bids were submitted to top the $12 million the nursery owed to a lender, ZZ Acquisitions LLC.
As a result, ZZ Acquisitions took title to the land without having to put up any more money. The lender is an affiliate of The InterTech Group Inc., a North Charleston-based industrial conglomerate with businesses around the world.
InterTech executive Robert Johnston said today that the company is in discussions with undisclosed parties about keeping a nursery operating on the 686-acre property. It also is looking at selling the remaining perishable inventory of plants.
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