Anderson, South Carolina — Vogel Advisors is pleased to announce the successful structuring and closing of a sale-leaseback transaction involving a manufacturing plant located in Anderson (Clemson), South Carolina, operated by Proper Group International. The 70,000 square foot facility is located less than five miles from the campus of Clemson University, and houses operations for two of PGI’s manufacturing subsidiaries, Proper Polymers and Proper Tooling.
Proper entered into a long-term lease at closing. The investor was a real estate private equity group based in Raleigh, North Carolina.
The transaction is notable in that the due diligence and closing period took place while the United States was experiencing its nationwide shutdown to help prevent the spread of the COVID-19 virus. No extensions were needed, despite the macro-economic conditions.
Vogel Advisors was assisted in the transaction by our good friends in the Charleston, SC office of Sands Investment Group.
About Vogel Advisors
Vogel Advisors is an independent commercial real estate brokerage providing strategic solutions for business owners and corporations. Since 2005, the firm has provided its clients with strategic, conflict-free, high-advocacy representation in sophisticated commercial real estate transactions. Services include tenant representation, lease renewals and modifications, purchase and sale brokerage, sale-leaseback advisory and §1031 exchange advisory.