**PRP Acquires $60.6M Corning Fiber Optic Manufacturing Facility in North Carolina**
PRP, a Washington, D.C.-based real estate investment management firm, has acquired a Corning fiber optic manufacturing facility in Hickory, North Carolina, for $60.6 million.
The facility, measuring approximately 265,000 square feet, produces Corning’s Ribbon and Rocket Ribbon fiber optic cables—vital components for advanced data center and telecommunications infrastructure throughout the United States. Positioned within the Trivium Corporate Campus and adjacent to the I-40 corridor, the property benefits from proximity to the expansive Charlotte metropolitan labor market. Constructed in 2022, this Class A manufacturing site is considered a mission-critical asset within Corning’s North American optical communications supply chain. The acquisition also includes additional land for potential future expansion.
“We are excited about this acquisition and the potential to grow our relationship with Corning, which is a leading global organization within the optical communications industry,” said EJ Wislar, Managing Director of PRP’s Net Lease platform. “Charlotte is experiencing continued strong economic momentum driven by billions of dollars of infrastructure, manufacturing, and business investment.”
