Investment Initiatives
Office
• 440 South Church Street -
New Office Tower Development
Charlotte, NC
Status: ACTIVE
Trinity Capital and Novare Group of Atlanta have formed a joint venture to develop a 15 story, 375,000 SF downtown Charlotte office tower. This office building will be part of a mixed use development located in the same block with Catalyst, a 460 unit condominium tower and Twelve, a 32 story condo/hotel development, both owned and developed solely by Novare.
The Site
The office tower will be located immediately in the same block with the assets identified above, adjacent to Duke Energy’s downtown headquarters, and across the street from Wachovia’s new $1.0 billion mixed use development. Wachovia’s development will include a new Class A office tower, a 42 story residential development, two museums, a new downtown performing arts theater, and 30,000 square feet of retail amenities. Further, the Trinity/Novare mixed use site is adjacent to the new 5 acre downtown park, which will be a significant amenity for the center city, and the new downtown baseball stadium, set to open in 2009.
The Development Team
Trinity and Novare will jointly develop the office building, and will equally own the economic interests of the asset. After commencement of construction in the spring of 2008, the building will be available for tenant occupancy by June of 2009. This office tower is being designed by Smallwood Reynolds Architects of Atlanta, and the general contractor has not been selected. For more information about Novare, please visit www.novaregroup.com.
• Perimeter Woods -
New Office Building Development
Charlotte, NC
Status: ACTIVE
In March of 2007, Trinity Capital will begin construction on a 125,000 square foot, five story Class A office building in Trinity's newest mixed use development, Perimeter Woods. This office building will be the first of three developed in the park, and will be delivered in June of 2007. Within Perimeter Woods, this building will be surrounded by numerous retail amenities, including an adjacent restaurant and small shop space across the internal boulevard. Directly across the street, the 1.5 M square foot Northlake Mall will provide countless amenities for tenants of this office building.
The exterior finishes for One Perimeter Woods will include architectural precast concrete panels with sandblasted and exposed aggregate finishes, along with ornamental stone accents. The entry lobby of this Class A building will have granite flooring with Cherry wood paneling along the accent walls. The second office building in Perimeter Woods will also be five stories and 125,000 square feet, and the third building will have structured parking, and will be eight stories and 200,000 square feet.
• Perimeter Woods -
Office/Warehouse and Land Acquisition
Charlotte, NC
Status: ACTIVE
In April of 2002, the principals of TC formed a joint venture with a retail developer and acquired Perimeter Woods Office Park, a 100-acre business park with 310,000 sf contained in four office/warehouse buildings, including 60 acres of undeveloped, improved land. Perimeter Woods is located at the intersection of Reames Road and I-77, directly across Reames Road from Northlake Mall, scheduled to open in 2005.
Originally developed in 1990 by Childress Klein Properties as an office/warehouse development, Perimeter Woods was most recently owned by Trizec Properties, a U.S. office REIT. PWI is projected to achieve an IRR of 28% on unrealized assets.
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