Pivotal Manufacturing Partners and Meadow Partners Acquire Advanced Manufacturing Facility in Greater Phoenix

Facility is Operated by an Affiliate of Corning Incorporated

NEW YORK & PHOENIX--(BUSINESS WIRE)--Pivotal Manufacturing Partners ("Pivotal"), a real estate investment platform purpose-built to acquire and develop advanced manufacturing assets, and Meadow Partners (“Meadow”), an institutional middle-market real estate investment manager, today announced the acquisition of 53 Ten, a 157,523-square-foot advanced manufacturing facility located on 19.6 acres in Glendale, Arizona. The facility is leased to an affiliate of Corning Incorporated (NYSE: GLW), a leading global materials science and technology company and a member of the Fortune 500.

53 Ten features substantial in-place electrical capacity and established production infrastructure in an infill Phoenix-area location. Corning operates the property as a dedicated precision manufacturing facility serving strategically important semiconductor, aerospace, and defense applications. The combination of significant power capacity, specialized infrastructure, and a central location within the Phoenix metro area positions the property to support a wide range of advanced manufacturing uses over the long term.

“Pivotal was founded to acquire and operate advanced manufacturing facilities that serve the most critical industries in this country, and 53 Ten is a strong example of the type of asset we created the platform to pursue,” said David Robbins, Managing Partner of Pivotal Manufacturing Partners. “We are proud to add Corning, a world-class company defining America’s next industrial era, to the Pivotal tenant portfolio. Phoenix is a market where we intend to build meaningful scale, and we are honored to complete this acquisition alongside our partners at Meadow.”

“As demand for domestic manufacturing increases, powered manufacturing facilities present a compelling opportunity that sits at the intersection of industrial real estate and high-power infrastructure,” said Marc Mechanic, Partner at Meadow Partners. “This investment reflects Meadow's conviction that power-rich industrial real estate assets in dense advanced manufacturing markets, like Phoenix, are uniquely positioned to benefit from the growing reshoring movement. We are excited to work with Pivotal to acquire 53 Ten, which we believe will play an essential role in supporting powered infrastructure demand in the Phoenix area and create long-term value for our investors.”

The acquisition marks Pivotal’s entry into Greater Phoenix, which has emerged as one of the nation's leading advanced manufacturing markets. Greater Phoenix has attracted more semiconductor supply chain investment than any U.S. metro since 2020, anchored by significant investments from TSMC, Intel, Microchip Technology, onsemi, and a growing network of semiconductor suppliers, aerospace, defense, and advanced materials industries. This continued investment is intensifying demand for highly-powered, production-ready manufacturing facilities throughout the market.

The acquisition of 53 Ten is an expansion of Meadow’s thesis that aims to capitalize on the intersection of real estate and power demand building on the firm’s robust track record of investing in industrial and energy transition assets. 53 Ten joins Pivotal’s growing portfolio, which includes some of the most unique advanced manufacturing and infrastructure assets in the United States, with exposure across critical minerals, nuclear energy, semiconductor, and defense supply chains. Pivotal continues to actively pursue acquisition and development opportunities as demand for high-power, mission-critical manufacturing facilities accelerates nationwide.

About Pivotal Manufacturing Partners
Pivotal Manufacturing Partners ("Pivotal") is a real estate investment platform focused on acquiring, developing, and managing large-scale advanced manufacturing assets. The firm was built to support the rapidly growing reshoring of U.S. manufacturing and invests directly at the intersection of real estate and power, targeting mission-critical properties with the technical infrastructure required to serve the semiconductor, aerospace and defense, energy, life sciences, critical minerals, and other strategic industries. For more information, visit pivotalmfg.com.

About Meadow Partners
Meadow Partners is a $7.5 billion vertically integrated real estate investment manager specializing in global middle-market transactions. Since inception in 2009, Meadow has leveraged its unique platform to execute on investment opportunities across multifamily, office, industrial, retail, and energy ground lease investments on behalf of institutional investors globally. Meadow currently manages a series of commingled opportunistic funds, a perpetual life vehicle, and five core/core-plus separately managed accounts. For more information, please visit https://www.meadowpartners.com/.