**PRP Acquires Corning Fiber Optic Manufacturing Facility in Hickory, NC for $60.6M**
PRP has acquired a Corning fiber optic manufacturing facility located in Hickory, North Carolina, for $60.6 million.
The facility manufactures Corning’s Ribbon and Rocket Ribbon fiber optic cables, which are essential components for advanced data centers and communication infrastructure throughout the United States. Situated within the Trivium Corporate Campus, the property also includes additional land for future expansion.
Constructed in 2022, the Class A facility plays a vital role in Corning’s optical communications supply chain in North America. This acquisition aligns with PRP’s strategic focus on strengthening its investments in U.S. critical infrastructure, advanced manufacturing, and logistics. The company continues to grow its net lease portfolio, targeting Class A assets leased to high-performing tenants in key industries.
EJ Wislar of PRP commented, “Charlotte is experiencing continued strong economic momentum driven by billions of dollars in infrastructure, manufacturing, and business investment. We are thankful for the professionalism of the seller team in enabling an efficient transaction and firmly believe Corning will continue to excel within the PRP portfolio for years to come.”
