PRP, a real estate investment management company headquartered in Washington, D.C., has acquired a Corning fiber optic manufacturing facility in Hickory, North Carolina, for $60.6 million.

The facility produces Corning’s Ribbon and Rocket Ribbon fiber optic cable, which is critical for advanced data center and communication infrastructure across the United States. The property, which includes land for future expansion, is located within the Trivium Corporate Campus and benefits from its location along I-40 and the large Charlotte MSA labor pool. Originally constructed in 2022, the Class A manufacturing asset is a mission-critical component of Corning’s optical communications supply chain in North America.

“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”, stated 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.”