Cushman & Wakefield | Thalhimer is pleased to exclusively present the sale-leaseback of a 30,750 SF Class A warehouse on ± 4.98 acres located off Interstate 64/81 in Waynesboro, VA, part of the Charlottesville MSA. Hathaway Paper Company, a regional distributor of industrial paper, packaging, and maintenance supplies, will enter into a 15 year absolute NNN leaseback at closing with the Purchaser. Headquartered at the Property for over 40 years, Hathaway Paper utilizes the facility for distribution, general warehousing, and packaging of products.
The Property is ideally located just off Interstate-64 (Exit 96) which connects directly to Interstate 81, 11 miles to the west. The asset is positioned within Waynesboro's main industrial park with nearby large industrial users such as Blue Ridge Beverage, Estes Express Lines, Kenco Logistics, Lawrence Freight, Lineage Logistics, and Northrup Grumman's brand new electronics manufacturing and testing facility (2025 delivery). The Shenandoah Valley industrial market remains one of the tightest on the East Coast with a
current vacancy rate of 2.1% and 60+% rental rate growth since 2021.
The combination of a secure and escalating income stream from a strong tenant, 15 year lease term, ideal interstate access, and highly functional/modern industrial asset makes 347 S. Oak Lane an excellent investment opportunity in a highly desirable secondary market.