CORFAC News

For Additional Information:
Brandie Redd
704-375-1445

Candor, NC (August 14, 2013) - The Aberdeen Carolina & Western Railway Company (ACWR) announced plans to develop a new repair-based subsidiary requiring the company to relocate to Candor, NC in the former Commodore Homes Corporation building on Hwy. 220. The company plans to create 25 new jobs and invest $3.3 million over the next five years. ACWR currently has 34 employees in its Star, NC headquarters in Montgomery County.  ACWR  has already begun the first phase of retrofitting  the 91,000-square-foot warehouse facility to  turn it into a locomotive repair shop facility that will include 4,600 feet of new track and a modern locomotive pit.  The building will house the new repair division called ACWR Shops, LLC, which repairs and retrofits locomotives and passenger and freight cars.

“Our Vice President of Mechanical, Dale Parks, has been building the locomotive, freight railcar, and passenger car repair part of our business for over five years. “ said Rob Menzies, president and CEO of ACWR. “We have exceeded capacity at our facility in Star, and we are already attracting interest from companies wanting to know when we will be ready to start to working on their locomotives.”

ACWR will maintain operations eight miles away in Star, NC until the second phase of retrofitting is complete. The corporate offices will then move to the Candor site. The longer-term goal for the Candor location is to develop the rest of the 78-acre industrial site for other industries needing rail freight transportation and to bring jobs and a stronger tax base to Montgomery County, according Russ Smitley, ACWR vice-president of marketing. “I am excited about this expansion of Aberdeen Carolina & Western Railway in Candor,” said State Rep. Justin Burr. “I look forward to future growth opportunities to help the economy of the town and of Montgomery County. I think they’ll find they made an excellent decision to locate in Candor.”

This project was made possible in part by NC Department of Transportation funding through the NC Legislature. This financial assistance is dedicated for rail projects in North Carolina that will stimulate economic activity and create new jobs. For the Aberdeen Carolina & Western Railway, the funding will be applied to building 4,600 feet of new track infrastructure.  Senator Stan Bingham also expressed his excitement for this project, saying: “This is great news for Montgomery County! Not only is the Aberdeen Carolina & Western Railway Company committed to growth in the rural counties they serve, but they are creating good-paying, skilled jobs. The Montgomery County Legislative Representatives’ involvement shows that a little can go a long way and can turn an idea into something permanent with lasting positive effects in a distressed county.”  Menzies added: “We are proud to be part of the Montgomery County business community and excited to work with the Montgomery County Economic Development Corporation to attract new rail centric businesses to our property that will result in new jobs and more opportunity to those of us who call Montgomery County home.”

Partners on the project include the Montgomery County Economic Development Corporation, Montgomery County, The Town of Candor, Duke Energy Progress, North Carolina Department of Transportation and the North Carolina Department of Commerce.

Real estate negotiations were handled by Marty J. McLaughlin of Piedmont Properties/CORFAC International, representing ACWR in the transaction.

About Piedmont Properties/CORFAC International
Piedmont Properties of the Carolinas, Inc. is a commercial real estate firm located in Charlotte, North Carolina established in 1993 in response to demand for a highly responsive and focused firm offering full service commercial real estate expertise to private sector clients, including entrepreneurs and publicly traded entities alike. Piedmont Properties’ vision is to be and build upon our reputation as a high quality, client-oriented real estate service firm offering our services to local and worldwide corporations.  Piedmont Properties brings a team approach to the services we provide to our clients by bringing to the table at any one time a team of real estate professionals who can meet the objectives of our clients. Our brokers provide clients with experience in sales and leasing; tenant representation; site selection; disposition; investments; tax-deferred exchanges; build-to-suit; and real estate evaluations.  For more information on Piedmont Properties/CORFAC International visit: www.piedmontproperties.com or call 704-375-1101.