An entity affiliated with Tribble Investments has acquired 2289 Ross Mill Road, a 126,288 square-foot industrial property located in Henderson, North Carolina. The two-building property serves as the North American headquarters of Vescom Group B.V., a Netherlands-based global producer of proprietary commercial wallcovering, upholstery, and curtain fabrics. Simultaneously with closing, Vescom Group B.V. has entered into a long-term lease of the property.

Trinity Partners’ Dunn Mileham, David Morris, and Eric Jennings handled the transaction on behalf of the seller. The two-building complex in Henderson (Raleigh-Cary metro area) has served as the US headquarters for Vescom since they acquired the property in 2006. Vescom is the global leader in the development, production, distribution, and sale of mid-to-high end and luxury products for the international contractor market.

“The company’s balance of financial strength, operational efficiency, global platform, and proprietary technology resonated with the single-tenant industrial investment community. The sale-leaseback highlights the continued strong demand for high-quality industrial assets with dependable cash flow located in proximity to dynamic markets like Raleigh,” said Dunn Mileham, Partner, at Trinity Partners. “The sale/leaseback of 2289 Ross Mill Road was a key element of Vescom’s strategy to increase penetration in North America markets to ensure continued growth of the company, as proceeds from the transaction will be redeployed to this end.”

“Investor interest in the opportunity was very strong given the combination of Vescom’s strong financial performance coupled with the quality construction and long-term commitment to the property.” said Mileham.