PRP acquired a Corning fiber optic manufacturing facility in Hickory, NC, for $60.6 million.
The facility produces Corning’s Ribbon and Rocket Ribbon fiber optic cable, critical for advanced data centers and communication infrastructure across the United States. It is located within the Trivium Corporate Campus and includes land for future expansion.
Originally constructed in 2022, the Class A manufacturing asset is a critical component of Corning’s optical communications supply chain in North America. This acquisition further advances PRP’s investments in US critical infrastructure, advanced manufacturing and logistics. PRP continues to expand its net lease portfolio of Class A assets leased to market-leading tenants.
PRP’s EJ Wislar added, “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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