APG Capital is pleased to announce its latest investment acquisition, a ±96,000 sf industrial building located at 2980 Lee Ave in Sanford, North Carolina.
The building was formally occupied by Static Control, a global print cartridge and component manufacturer, now operating out of their newly consolidated facility next door.
Plans for the property include initial capital expenditures to further upgrade the building followed by placement of two new tenants. One of those tenants is a new player in the personal protection coverings market.
“We are excited to add this asset to our growing portfolio. It has been meticulously maintained and upgraded by the former owner, and now neighbor, Static Control, whom we must credit for such a smooth property hand off. Anytime we purchase a new property, it’s ideal to have a tenant in-tow, and this is one of those situations, the timing was right. We have had prior success working in the Sand Hills region of North Carolina and are optimistic about Sanford’s future. In fact, we anticipate making additional investments in the area and we are excited to grow our presence in the community,” said James Anthony III, VP of the investment team with APG Capital.
The acquisition was facilitated by James, partner Daniel Walser, and CEO Jim Anthony. APG Advisors represented the buyer and Scott Hadley represented the seller. David Miller of Long Leaf Law Partners in Raleigh also represented APG Capital. For further information contact James Anthony III.