AIC Ventures Buys Charlotte-Area Manufacturing Facility in Sale Leaseback
AIC Ventures purchased the asset and executed a long-term, absolute net lease with the seller.
HARRISBURG, NC-A thermoforming and injection molding company has sold a building in one of the premier distribution locations here to secure more flexibility on its balance sheet amid a turbulent economic market.
JLL Capital Markets closed the sale-leaseback of the 126,000 square foot single-tenant, fully leased manufacturing facility on behalf of its client, Wilbert Plastic Services.
The buyer, AIC Ventures, is an investment fund manager that provides alternative capital solutions to domestic middle-market companies. AIC Ventures purchased the asset and executed a long-term, absolute net lease with the seller.
Managing Director Pete Pittroff was among a team at JLL Capital Markets representing the seller in this transaction. Senior Director Patrick Nally, Associate Val Derrick and Analyst Dave Andrews also played a role.
“Industrial demand remains strong in the Carolina’s markets,” Pittroff said, “particularly for quality assets with quality tenants.”
For Wilbert Plastic, the building provides a mission-critical location for its services. The property encompasses is over 14.60 acres along the Interstate 85 corridor at the 7000 block of Caldwell Road. The I-85 corridor is one of the premier distribution locations within the Charlotte market, where the City of Harrisburg is situated.
The building has a strong location for regional transportation. The location is about two miles from Interstate 485 and five miles from I-85. In addition, it is around 30 minutes from the Wilbert Plastic headquarters and thermoforming facility in Belmont. In addition,
Pittroff praised AIC Ventures after the close of the deal.
“This transaction led to a positive outcome for our client, and we would like to thank AIC Ventures for their efficient approach,” Pittroff said.