Industrial

HICKORY, N.C. — Corning Inc. has announced plans to develop a new optical cable manufacturing facility in Hickory, about 58 miles northwest of Charlotte. The new plant is part of the New York-based tech manufacturing firm’s multi-year, up to $6 billion agreement with Meta Platforms Inc., the parent company of Facebook and Instagram. Meta will serve as the anchor client of the manufacturing facility. The agreement will help accelerate the build-out of advanced data centers to support Meta’s various apps and technologies, including its Llama AI platform. Under the agreement, Corning will supply Meta with “its newest innovations in optical fiber, cable and connectivity solutions.” The new factory and increased investment in Corning’s existing North Carolina footprint are expected to create 5,000 new jobs, including scientists, engineers and production teams. The initiative is expected to increase Corning’s employment in North Carolina by 15 to 20 percent. Back in October, Corning acquired 32.9 acres in Trivium Corporate Center, a 378-acre business park in Hickory, and agreed to invest $170 million to $267.9 million and create 132 jobs at the park.

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BIRMINGHAM, ALA. — Coro Realty has acquired a 239,370-square-foot industrial facility located at 3501 1st Ave. N in Birmingham’s Eastside submarket. Tripp Alexander and Will Canary of Colliers represented Coro Realty in the $13.8 million transaction. Jake Viverette and Will Redding with The Overton Group, along with Edwin Moss and Benjamin Bottcher of JH Berry, represented the undisclosed seller. Bobby Norwood of JLL arranged an undisclosed amount of acquisition financing on behalf of Coro Realty via Seacoast Bank. Originally built in 1965, the property was fully leased at the time of sale to tenants including the U.S. Postal Service, Division 7 Supply and Sara Sells. The infill facility is situated on a nine-acre site near downtown Birmingham and I-20 and features 20 dock-high doors, LED lighting and a rail spur with potential connectivity to an active Norfolk Southern line.

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CHARLOTTE, N.C. — A partnership between Iconic Equities, Shoreline Capital, Overlook Ventures and LaSalle Investment Management has broken ground on Pineville Distribution Center, a 194,232-square-foot industrial facility in Charlotte’s Southwest submarket. The property is located on 15 acres at 10203 Pineville Distribution St. The ownership has tapped Bradley Dunn and Bill Wood of Trinity Partners to lease Pineville Distribution Center. The co-developers plan to deliver the facility in mid-to-late 2026. Physical features of the project were not released.

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HOUSTON — Zenith IOS, a New York City-based owner-operator of industrial outdoor storage (IOS) facilities, has acquired a portfolio of three properties totaling roughly 137,000 square feet in Houston. Zenith acquired the 20-acre portfolio in a 10-year sale-leaseback with the tenant, Houston-based C&D Scrap Metal. The addresses of the properties and the sales price of the transaction were not disclosed.

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KANKAKEE, ILL. — An affiliate of Phoenix Investors has acquired a 670,000-square-foot, heavy power industrial facility in Kankakee. The rail-served property is positioned near I-57. Formerly home to the Heinz Pet Food manufacturing and distribution facility, the property features approximately 43 megawatts of power, clear heights up to 87 feet, 41 dock doors, seven drive-in doors and an active Norfolk Southern rail spur. The fully fenced site includes a guard shack, extensive trailer and automobile parking and the ability to be demised to accommodate multiple users or a single large-format tenant. Phoenix plans to undertake a series of capital improvements to reposition the property and enhance its functionality for modern industrial users. Planned improvements include white-boxing select areas, general site and exterior upgrades, the installation of high-efficiency LED lighting and the addition of new dock doors to further improve loading capacity and operational flow.

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HACKETTSTOWN, N.J. — Resource Realty of Northern New Jersey has negotiated a 45,048-square-foot industrial lease in Hackettstown, about 50 miles west of New York City. According to LoopNet Inc., the building at 715 Willow Grove St. was completed in 2008 and totals 75,502 square feet. Brian Wilson of Resource Realty represented the landlord in the lease negotiations. KBC Advisors represented the tenant. Both parties requested anonymity.

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NEW YORK CITY AND BOSTON — Affiliates of New York City-based investment firm Makarora Management and global investment firm Ares Management Corp. (NYSE: ARE) have completed the $2.1 billion, all-cash acquisition of Boston-based Plymouth Industrial REIT.   Under the terms of the deal, which was announced last fall, Plymouth shareholders will receive $22 for each share of common stock they own, and Plymouth will no longer be traded or listed on any public securities exchange. The transaction also calls for the acquiring entities to assume certain pieces of Plymouth’s outstanding debt. The purchase price represents a premium of approximately 50 percent to Plymouth’s unaffected closing common stock price on August 18, 2025. That date marks the last trading day prior to the filing of a Schedule 13D by affiliates of Sixth Street Partners LLC disclosing a nonbinding proposal to acquire all of the outstanding shares of Plymouth’s common stock.

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PEMBERTON, N.J. — New York City-based Rockefeller Group will develop a 486,850-square-foot industrial project in Pemberton, located about 35 miles east of Philadelphia. The site spans 100 acres at 2554 U.S. Route 206, and the two-building development will be known as 206 Logistics Center. Building features will include clear heights of 36 to 40 feet, ESFR sprinkler systems and “ample” trailer parking. A construction timeline was not announced. Jonathan Klear and Fred Meyer of NAI Mertz represented Rockefeller Group in its acquisition of the land. NAI Mertz has also been retained to market the project for lease, sale and/or build-to-suit opportunities.

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HEBRON, KY. — Brennan Investment Group has acquired a 56,000-square-foot industrial facility located at 1010 Petersburg Road in Hebron, about two miles south of Cincinnati/Northern Kentucky International Airport. The facility is situated on more than five acres within Airpark International Corridor, a master-planned industrial park. The Chicago-based investment firm purchased the facility in a sale-leaseback deal with the tenant, a rubber and plastics manufacturer that has occupied the facility for more than 10 years. The sales price and lease terms were not disclosed.

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PLEASANT PRAIRIE, WIS. — The Barry Co. has brokered the sale of the former warehouse and retail facility for Jelly Belly in Pleasant Prairie. The candy company closed its operations at the property in 2020. The facility is now occupied by Rust-Oleum and SMT Packaging, tenants that were procured by Barry Co. after Jelly Belly moved. Kevin Barry and David Buckley of Barry Co. represented the undisclosed seller. The buyer was 9th and Main LLC.

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