{"id":1004687394,"date":"2023-10-26T03:48:22","date_gmt":"2023-10-26T11:48:22","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004687394"},"modified":"2023-10-26T03:48:24","modified_gmt":"2023-10-26T11:48:24","slug":"lcn-buys-1-msf-glassware-factory-in-sale-leaseback-deal","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/lcn-buys-1-msf-glassware-factory-in-sale-leaseback-deal\/","title":{"rendered":"LCN Buys 1 MSF Glassware Factory in Sale-Leaseback Deal"},"content":{"rendered":"
\"The<\/a>

The Anchor Hocking facility in Lancaster, Ohio. Image courtesy of CommercialEdge<\/em><\/p><\/div>\n

LCN Capital Partners<\/strong> has completed a sale-leaseback acquisition of the primary manufacturing and warehouse facility of Anchor Hocking LLC<\/strong>, in Lancaster, Ohio, near Columbus.<\/p>\n

Simultaneously, LCN leased the 1 million-square-foot industrial facility back to the glassware company under a 25-year, triple-net lease.<\/p>\n

The facility has three 200-ton glass furnaces and accounts for nearly 100 percent of Anchor Hocking’s production and revenue. It operates 24 hours a day and is crucial to the U.S. glass manufacturing sector, as it contains three of the 10 glass furnaces that currently operate in this country.<\/p>\n

\n

READ ALSO<\/strong>: Multistory Warehouses\u2019 Future Is Looking Up<\/a><\/p>\n

\n

In a prepared statement, Jared Ciejek, a partner at LCN Capital Partners, described the property as \u201ca highly specialized facility with a footprint unique to glass manufacturing,\u201d adding that its sale helps Anchor Hocking unlock capital that can be re-invested into its core business.<\/p>\n

Established in 1905 and owned over the decades by a succession of parent companies (currently Lenox Corp<\/strong>.), Anchor Hocking is a leading maker of household consumer glassware, as well as products for the foodservice and commercial markets.<\/p>\n

Manufacturing comeback<\/h2>\n

A diverse user base is helping to bolster tenant demand in the Greater Columbus industrial space market, for both distribution and manufacturing space, according to a third-quarter report from JLL<\/strong>. The latter is highlighted by investments in auto and energy manufacturing, data centers<\/a>, and Intel\u2019s $20 billion<\/a>, nearly 1,000-acre chip plant in Licking County.<\/p>\n

However, enough space has been delivered\u2014more than 6.5 million square feet just in the third quarter and a record 15.6 million year-to-date\u2014that total industrial vacancy has increased by 1.3 percent quarter-over-quarter, to 6.9 percent, JLL reported.<\/p>\n

In August, VanTrust Real Estate<\/strong> announced plans to start construction on a 1.2 million-square-foot build-to-suit warehouse facility<\/a> in New Albany, Ohio, near the Intel campus, for Danish shipping giant DSV<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

This facility houses three of the 10 glass furnaces now operating in the U.S.<\/p>\n","protected":false},"author":882,"featured_media":1004687429,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1585,21748,21783,13,21742],"tags":[32796],"class_list":["post-1004687394","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-columbus","category-industrial","category-investment","category-midwest","category-latest","tag-jll"],"acf":[],"yoast_head":"\nLCN Buys 1 MSF Glassware Factory in Sale-Leaseback Deal - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"LCN Capital Partners has closed the sale-leaseback acquisition of the primary manufacturing and warehouse facility of Anchor Hocking in Ohio.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/lcn-buys-1-msf-glassware-factory-in-sale-leaseback-deal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LCN Buys 1 MSF Glassware Factory in Sale-Leaseback Deal\" \/>\n<meta property=\"og:description\" content=\"LCN Capital Partners has closed the sale-leaseback acquisition of the primary manufacturing and warehouse facility of Anchor Hocking in Ohio.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/lcn-buys-1-msf-glassware-factory-in-sale-leaseback-deal\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-26T11:48:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-26T11:48:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/The-Anchor-Hocking-facility-in-Lancaster-Ohio.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lcn-buys-1-msf-glassware-factory-in-sale-leaseback-deal\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/lcn-buys-1-msf-glassware-factory-in-sale-leaseback-deal\/\",\"name\":\"LCN Buys 1 MSF Glassware Factory in Sale-Leaseback Deal - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lcn-buys-1-msf-glassware-factory-in-sale-leaseback-deal\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lcn-buys-1-msf-glassware-factory-in-sale-leaseback-deal\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/The-Anchor-Hocking-facility-in-Lancaster-Ohio.jpg\",\"datePublished\":\"2023-10-26T11:48:22+00:00\",\"dateModified\":\"2023-10-26T11:48:24+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"description\":\"LCN Capital Partners has closed the sale-leaseback acquisition of the primary manufacturing and warehouse facility of Anchor Hocking in Ohio.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lcn-buys-1-msf-glassware-factory-in-sale-leaseback-deal\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/lcn-buys-1-msf-glassware-factory-in-sale-leaseback-deal\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lcn-buys-1-msf-glassware-factory-in-sale-leaseback-deal\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/The-Anchor-Hocking-facility-in-Lancaster-Ohio.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/The-Anchor-Hocking-facility-in-Lancaster-Ohio.jpg\",\"width\":1000,\"height\":800,\"caption\":\"The Anchor Hocking facility in Lancaster, Ohio. 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