120 Cascade Drive NW is located in Concord, North Carolina and is currently leased to new tenant Morrison Brothers Building Company. The industrial building contains 34,655 square feet of space and sits on 3.24 acres of land. Morrison Brothers occupies the entire building pursuant to a new 5-year lease with two 3-year options. We expect a solid long-term relationship with this new tenant.
Cascade has been a solid well-performing asset for MLP and, with our new tenant, we see this being a substantial long term investment property.