It's actually just east of Columbia. There are 2 parcels, both about 20 acres. As far as why they are leasing, I'm not too sure although it might be so they could get working on the barrier contract before ithe purchase could close.
The place they have in Raleigh is pretty small and we are talking about a multimillion dollar barrier order (storage alone might preclude Raleigh from something that size if customer didn't pick it up but not sure).
Supposedly it was going to close fairly soon. Hopefully they PR it if they do close on it.
It's an existing facility, I think built around 1980 or so. By purchasing the place they retain the asset. It's almost 40 acres counting both parcels. One parcel is mostly treed still but the facility parcel is mostly cleared in back. It's right off the highway so should b decent for accessing different routes for trucks. The main facility also has good overhead clearance of about 30+ feet and I think the overhead cranes were still in place.
If they can do a better job with pricing going forward I think they have nice potential. So far, it seems their pricing power is lagging but it is early in the cycle.
All IMO only.
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