ANNISTON, Ala.--Lex Anniston LP has acquired a 267,000-square-foot manufacturing facility in Anniston, Ala., for $20.9 million. The facility is currently leased to a single tenant, International Automotive Components Group North America Inc.
According to Natasha Roberts, executive vice president and director of acquisitions for Lexington Realty Trust, the tenant recently expanded and signed a new 15-year lease. In addition, the tenant invested over $20 million into the property with the installation of heavy machinery.
Originally built in 1992 and expanded to 140,000 square feet in 2004, it later added 127,000 square feet. The asset is on a 19.89-acre parcel of land.
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