Aug
25

1.4 Million SF Industrial Property Sold

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Cushman & Wakefield | Thalhimer has announced the sale of a 1.4 million square foot industrial property known as WestPoint Home located at 19320 Airbase Road in Wagram, North Carolina. The Scotland County site included a warehouse and production facility, an active water and wastewater treatment plant, a modern four boiler steam plant, and timberland.

Cascades Tissue Group purchased the 1,438,571 sq.ft. property, situated on nearly 1,000 acres, and will immediately begin to upfit the facilities for a tissue plant. As a North American leader in the recovery, manufacturing and converting of green packaging and tissue paper products, the company will make a $55 million investment and create 68 new jobs. The total annual capacity for the new converting plant will be approximately 10 million cases on six converting lines, with the capacity to produce various tissue products including bathroom tissue, kitchen towels, paper napkins and hand towels for both the away-from-home and consumer products markets

Warren M. Snowdon, SIOR of Cushman & Wakefield | Thalhimer handled the sale negotiations on behalf of the seller, WP Properties Wagram, LLC.

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