WPM-Hight JV Scores Big Industrial Tenant
An industrial partnership has struck gold again, this time in Covington. WPM Commercial and Hight Property Group just leased 207k SF to Mannington Mills, a flooring company, for five years at 9172 Industrial Dr. The 326k SF facility was previously owned by Berry Plastics, which vacated the property in 2012. The JV just purchased the 37-acre property off I-20 East and pumped $2M into renovations that ultimately lured Mannington Mills, says WPM's Matt DiLeo (right, with WPM's Price Muir, center, and Hight's Phillip Hight).
This is the JV's second acquisition in the past year. It acquired TUG Technologies' HQ at 2652 S Main St, a 100k SF manufacturing facility in Kennesaw. “We plan to continue to buy as much industrial product in the Southeast as we can make sense of, no matter the story, both together and separately,” Matt says.