Syntec Precision Technology Corporation purchased the 82,022-square-foot (SF) building for $4.8M

Raleigh, NC – Avison Young, a global real estate advisory firm, has arranged the purchase of an 82,022-square-foot (SF) industrial building located at 145 Technology Lane Henderson, NC for $4.8M on behalf of Syntec Precision Technology Corporation, a global high-precision engineering and manufacturing company. The site will serve as the company’s first North American production and warehouse facility.

Syntec, a leader in engineering and producing precision machining parts for the hydraulic, life sciences and transportation industries, will invest $8M in developing the facility to implement research and development, prototyping/sampling, supply chain management and logistics capabilities. The company will also create 34 new jobs in Vance County, which could potentially create an annual payroll impact of more than $1.5M. Renovation of the existing space will take a least six months before business begins at the new plant.

Avison Young Vice President Daniel Cheng represented Syntec Precision Technology in the transaction. Scott Hurst of Coldwell Banker Advantage represented the seller.

“Syntec’s investment in Vance County is a testament to North Carolina’s growing reputation as a hub for advanced manufacturing,” said Cheng. “The new jobs, infrastructure investment, workforce training and environmental considerations make this project a transformative opportunity for the region and also supports the broader trend of reshoring precision manufacturing to the U.S.”

“Our expansion to the United States will support the development, production and distribution of high-quality parts for medical devices, diagnostic equipment, and orthopedic products as well as new equipment near our existing customers and potential new opportunities,” said Lei Wang and Bin Wang, Owners of Syntec Precision Technology Corporation. “We are grateful for Avison Young’s extensive efforts with site selection and assistance arranging the transaction on our behalf.”