Oh my. US pays $128M for a warehouse site to a Russian company (PNK Group) who bought the land for $29M in 2023. Seems like we shouldn’t be giving Russian Companies $128M for anything. The most expensive warehouse sold in Ohio before this I could find over the last 4 years was about $30M less than this transaction. Boy does this seem weird.
I am sure the Uranium One sleuths will be all over this.
Paywall Removed
Original Link
www.waltontribune.com
According to a deed obtained by reporters, the U.S. government paid $128,555,500 to PNK S1, LLC to purchase a 235-acre lot at 1365 East Hightower Trail. The lot currently contains a warehouse that is expected to be used as a U.S. Immigration and Customs Enforcement (ICE) detention facility. The facility could house 5,000-10,000 detainees, which could effectively triple the population of Social Circle.
The sale comes nearly three years after PNK purchased the property for $29,392,500 from Walton Leaf LLC in 2023, according to tax records. In 2024, the property was valued by the Walton County Tax Assessor’s Office at $3,294,000. However, that number jumped to $29,786,800 in 2025 as the warehouse neared completion.
PNK Group is a prominent international developer of industrial and warehouse real estate headquarter in Moscow, Russia.
I am sure the Uranium One sleuths will be all over this.
Paywall Removed
Original Link
Feds paid over $128.5 million for new ICE facility, deed shows
Financial details surrounding the sale of a warehouse in Social Circle to the United States government have been made available.
According to a deed obtained by reporters, the U.S. government paid $128,555,500 to PNK S1, LLC to purchase a 235-acre lot at 1365 East Hightower Trail. The lot currently contains a warehouse that is expected to be used as a U.S. Immigration and Customs Enforcement (ICE) detention facility. The facility could house 5,000-10,000 detainees, which could effectively triple the population of Social Circle.
The sale comes nearly three years after PNK purchased the property for $29,392,500 from Walton Leaf LLC in 2023, according to tax records. In 2024, the property was valued by the Walton County Tax Assessor’s Office at $3,294,000. However, that number jumped to $29,786,800 in 2025 as the warehouse neared completion.
PNK Group is a prominent international developer of industrial and warehouse real estate headquarter in Moscow, Russia.
