NEW YORK, Oct. 04, 2022 (GLOBE NEWSWIRE) -- Northpath Investments (“Northpath”) and TrueStone Group is pleased to announce the $34.82M acquisition of 1101 Syphrit Way (the “Property”), a 5-building industrial campus consisting of approximately 748,000 sq. ft. in Wellford, SC, via a sale-leaseback transaction with Leigh Fibers.
The Property is 95%+ occupied and is anchored by Leigh Fibers, a textile manufacturing company that currently occupies a total of 590,307 sq. ft. between multiple buildings. This transaction is the first time the property has changed ownership as Leigh Fibers owned the campus for the last 60+ years.
“We are very excited about our latest acquisition of 1101 Syphrit Way, a strategically located industrial facility along Routes 29 & 129 in the South Carolina market which has become a manufacturing/logistics hub in recent years. Multiple Fortune 500 Companies, such as BMW & Boeing, have opened manufacturing facilities in this market which has grown its profile exponentially. This acquisition fits our companies’ long-term value-add strategy via investing in blossoming markets along the east coast,” said Gershon Alexander, Principal at Northpath Investments.
JLL’s Senior Managing Director Michael Klein represented Northpath in obtaining financing for the acquisition via MidCap Financial and Bobby Lyons of Lyons Industrial Properties represented the seller in the transaction.
About Northpath Investments
Northpath Investments is a privately held real estate investment firm headquartered in New York City. Northpath is focused on the acquisition, development, redevelopment and management of retail, industrial and office properties in the Northeast and Mid-Atlantic. Northpath has an excellent track record in the ownership and management of real estate assets and seeks to create value for investors, partners, and the communities in which they work and live.
Contact: Danielle Gross
C: 917-202-4986
E: info@northpathinvestments.com
