USC agrees to sell coastal plantation for $4M

COLUMBIA, S.C. (AP) — The University of South Carolina has agreed to sell a 1,500-acre Lowcountry coastal plantation for the $4 million asking price.

The State of Columbia reports (http://bit.ly/1xKVpnW ) USC trustees chairman Gene Warr said the buyer is still inspecting the property known as the Wedge Plantation. Officials didn’t identify the buyer.

USC has leased the nearly 200-year-old plantation founded by rice planter William Lucas for years after the school stopped using it for insect research. Plantation renters have included hunters and filmmakers shooting a Kevin Costner movie.

The school asked for at least $4 million when the plantation was put up for sale again in May. USC paid about $1 million for the property in the 1970s.

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Information from: The State, http://www.thestate.com