Florida-based Twin Vee announced the closing of the sale of a commercial property in Marion, N.C., that was intended for a manufacturing facility for its Forza X1 subsidiary. Twin Vee said the $4.25 million from the sale will positively affect the balance sheet. The company said it carried no debt, bank loans or other liabilities against the property.
“The sale of our Marion property allows us to streamline our capital allocation and further focus and invest in our core business operations and development pipeline,” president and CEO Joseph Visconti said in a statement.
Highland Myco Holdings, a North Carolina limited liability company, purchased the property, which encompasses 11.88 acres, including a partially completed building of approximately 60,000 square feet.
