US real estate investment management firm PRP has acquired a fibre optic manufacturing facility in Hickory, North Carolina for $60.6m (€54m).
The facility, which produces technology company Corning’s fibre optic cable, includes land for future expansion.
EJ Wislar, managing director of PRP’s net lease platform, said: “We are excited about this acquisition and the potential to grow our relationship with Corning, which is a leading global organisation within the optical communications industry.
“Charlotte is experiencing continued strong economic momentum driven by billions of dollars of infrastructure, manufacturing, and business investment. We are thankful for the professionalism of the seller team enabling an efficient transaction and firmly believe Corning will continue to excel within the PRP portfolio for years to come.”
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