WABCO | Assembly & Distribution Facility

Property Description

The WABCO Assembly and Distribution Facility is a single-story, 145,200-square-foot assembly, distribution, and R&D facility situated on a 9.64-acre site in the Whitfield Corporate Park in North Charleston, South Carolina (the “Property”). The Property was completed by Clayco-Venture One Development Services, LLC in May 2016, and is leased in its entirety to WABCO Air Compressor Holdings Inc. (the “Tenant”), with a guarantee from WABCO Holdings Inc. (the “Company,” or “WABCO”), for an initial term of approximately 7.0 years. WABCO Holdings Inc. (NYSE: WBC) is a leading global tier-one supplier of electronic, mechanical, and mechatronic products for commercial truck, trailer, bus, and passenger car manufacturers worldwide. WABCO develops, manufactures and sells control systems – including advanced braking, stability, suspension, transmission automation, and air compression and processing systems – that improve vehicle safety, efficiency and performance while reducing overall vehicle operating costs. WABCO was founded in the United States in 1869 as Westinghouse Air Brake Company, and is headquartered in Brussels, Belgium with over 12,400 employees in 39 countries worldwide. WABCO Holdings Inc.

Business Essential Attributes

The Property was a build-to-suit for WABCO and serves as WABCO’s new state-of-the-art production and testing facility in Charleston, where WABCO designs and manufactures air disc brakes, actuators, and single-and twin-cylinder air compressors for diesel engines in commercial vehicle applications. WABCO relocated and expanded its operations from a facility located approximately eight miles south of the Property where it had produced air compressors and other braking system components since 1996. WABCO has invested up to $8 million in new production lines at the Property, which will enable the Company to meet increased North American customer demand for its advanced air disc brakes, energy-efficient air compressors, and related systems. The new facility is expected to create more than 50 new jobs and help sustain approximately 175 existing jobs.

Additional Property Information

Situated less than five miles from Charleston International Airport and less than ten miles west of the Port of Charleston, the site is a logical choice for prominent manufacturing companies, affording convenient access to global markets via air, land and sea. Charleston has established itself as a major global automotive center, and the Property provides locational synergies for WABCO given its proximity to automotive manufacturing facilities for WABCO’s largest customers including Cummins, Daimler, and Volvo (opening 2018).

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WABCO | Assembly & Distribution Facility

Charleston, South Carolina

PROPERTY AT A GLANCE

Property Profile
Property Type:
Single-story assembly, distribution, and R&D facility
Square Footage: 145,200
Leased: 100%
Lease Expiration:
August 31, 2023  
Renewal Option(s):
Two, 5-year fixed rate renewal options
Rent Increase(s):
2.00% average annual rent escalations
Tenant:
WABCO Air Compressor Holdings Inc.
Parent / Guarantor: 
WABCO Holdings Inc. 
Website*: www.wabco-auto.com
NYSE*: 
WBC
*Website and Stock ticker symbol are for WABCO Holdings Inc., the parent company and guarantor on the lease.

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THIS IS NEITHER AN OFFER TO SELL NOR A SOLICITATION OF AN OFFER TO BUY THE SECURITIES DESCRIBED HEREIN. AN OFFERING IS MADE ONLY BY THE PROSPECTUS. THIS SALES AND ADVERTISING LITERATURE MUST BE READ IN CONJUNCTION WITH THE PROSPECTUS IN ORDER TO UNDERSTAND FULLY ALL OF THE IMPLICATIONS AND RISKS OF THE OFFERING OF SECURITIES TO WHICH IT RELATES. A COPY OF THE PROSPECTUS MUST BE MADE AVAILABLE TO YOU IN CONNECTION WITH THIS OFFERING. NO OFFERING IS MADE TO NEW YORK RESIDENTS EXCEPT BY A PROSPECTUS FILED WITH THE DEPARTMENT OF LAW OF THE STATE OF NEW YORK. NEITHER THE SECURITIES AND EXCHANGE COMMISSION, THE ATTORNEY GENERAL OF THE STATE OF NEW YORK NOR ANY OTHER STATE SECURITIES REGULATOR HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR DETERMINED IF THE PROSPECTUS IS TRUTHFUL OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. AN INVESTMENT IN GRIFFIN CAPITAL ESSENTIAL ASSET REIT II, INC. INVOLVES A HIGH DEGREE OF RISK AND THERE CAN BE NO ASSURANCE THAT THE INVESTMENT OBJECTIVES OF THIS PROGRAM WILL BE ATTAINED. 

Risk Factors: An investment in Griffin Capital Essential Asset REIT II, Inc. involves a high degree of risk and there can be no assurance that the investment objectives of this program will be attained. Some of the risks associated with this offering include the following: this is a “best efforts” offering and some or all of our shares may not be sold; no public market currently exists for our shares; it may be difficult to sell your shares, and if you do, it will likely be at a substantial discount; the purchase and redemption price for shares of our common stock will be based on the NAV of each class of common stock; we must depend on our advisor to conduct our operations; we will pay substantial fees and expenses to our advisor; there are substantial conflicts of interest among us and our sponsor, advisor, dealer manager and property manager; we may use substantial debt to acquire our properties; we may fail to continue to qualify as a REIT; our share redemption program is subject to available liquidity and other significant restrictions and we may amend, suspend or terminate the share redemption program at any time; a portion of the offering proceeds may be used to redeem or repurchase our shares; and future distribution declarations are at the sole discretion of the board of directors and are not guaranteed. We may fund a portion of our distributions from offering proceeds or from borrowings in anticipation of future cash flows, some or all of which may be a return of capital. 

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Please Accept

The Griffin Capital Essential Asset REIT II, Inc. website is available for use subject to its Terms and Conditions and our Privacy Policy. Please click on the highlighted terms to review these. To review a summary of the risk factors related to an investment in the Griffin Capital Essential Asset REIT II, Inc. program  click here.

This material must be read in conjunction with the applicable prospectus in order to understand all the implications and risks of any offering of securities to which the material relates. If you have not previously reviewed a prospectus, click here. Otherwise, to proceed, agree to the Terms and Conditions and Privacy Policy of this website.

THIS IS NEITHER AN OFFER TO SELL NOR A SOLICITATION OF AN OFFER TO BUY THE SECURITIES DESCRIBED HEREIN. AN OFFERING IS MADE ONLY BY THE PROSPECTUS. THIS SALES AND ADVERTISING LITERATURE MUST BE READ IN CONJUNCTION WITH THE PROSPECTUS IN ORDER TO UNDERSTAND FULLY ALL OF THE IMPLICATIONS AND RISKS OF THE OFFERING OF SECURITIES TO WHICH IT RELATES. A COPY OF THE PROSPECTUS MUST BE MADE AVAILABLE TO YOU IN CONNECTION WITH THIS OFFERING. NO OFFERING IS MADE TO NEW YORK RESIDENTS EXCEPT BY A PROSPECTUS FILED WITH THE DEPARTMENT OF LAW OF THE STATE OF NEW YORK. NEITHER THE SECURITIES AND EXCHANGE COMMISSION, THE ATTORNEY GENERAL OF THE STATE OF NEW YORK NOR ANY OTHER STATE SECURITIES REGULATOR HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR DETERMINED IF THE PROSPECTUS IS TRUTHFUL OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. AN INVESTMENT IN GRIFFIN CAPITAL ESSENTIAL ASSET REIT II, INC. INVOLVES A HIGH DEGREE OF RISK AND THERE CAN BE NO ASSURANCE THAT THE INVESTMENT OBJECTIVES OF THIS PROGRAM WILL BE ATTAINED. 

Risk Factors: An investment in Griffin Capital Essential Asset REIT II, Inc. involves a high degree of risk and there can be no assurance that the investment objectives of this program will be attained. Some of the risks associated with this offering include the following: this is a “best efforts” offering and some or all of our shares may not be sold; no public market currently exists for our shares; it may be difficult to sell your shares, and if you do, it will likely be at a substantial discount; the purchase and redemption price for shares of our common stock will be based on the NAV of each class of common stock; we must depend on our advisor to conduct our operations; we will pay substantial fees and expenses to our advisor; there are substantial conflicts of interest among us and our sponsor, advisor, dealer manager and property manager; we may use substantial debt to acquire our properties; we may fail to continue to qualify as a REIT; our share redemption program is subject to available liquidity and other significant restrictions and we may amend, suspend or terminate the share redemption program at any time; a portion of the offering proceeds may be used to redeem or repurchase our shares; and future distribution declarations are at the sole discretion of the board of directors and are not guaranteed. We may fund a portion of our distributions from offering proceeds or from borrowings in anticipation of future cash flows, some or all of which may be a return of capital.