Over 176,000 SF Leased at Shopton Ridge
August 25, 2014
Trinity Partners’ Bill Wood has leased +176,000 SF at southwest Charlotte’s Shopton Ridge Industrial Park.
Pinpoint Warehousing, Inc. is a full service third party logistics company based in Charlotte. Pinpoint has secured a new, long term contract with Ballantyne Brands, LLC to co-pack its electronic cigarette and personal vaporizer products domestically. Pinpoint has leased +102,400 sf in Building 18-B at 3915 Shopton Road (formerly occupied by Shutterfly). Represented by Jim Whiteside at Whiteside Industrial Properties, the company will move its corporate offices to Shopton Ridge in September of this year. In addition to the new facility at Shopton Ridge, Pinpoint will continue to operate its existing warehouse facility at 11515 Granite Street.
ScentAir Technologies, Inc. has leased +57,600 SF in Building 18-D at 3810 Shutterfly Road. ScentAir is a worldwide leader in the production and distribution of customized scent delivery solutions. Represented by Scott Dumler at Mohr Partners, ScentAir will move their corporate headquarters to Shopton Ridge in late 2014/early 2015.
Also at Building 18-D, Norcomp has leased +16,000 SF and will relocate its existing Charlotte facility in November of this year. A division of EDAC (America) Limited, Norcomp is a leader in the design, manufacturing, and distribution of interconnect solutions products. Norcomp offers a wide range of premium machined, rugged, high reliability connectors for military, industrial, medical, and computer markets. Norcomp was represented by Harry Cole at Sperry Van Ness Percival Partners.
The buildings (18-A / 3845 Shopton Road, 18-B / 3915 Shopton Road, 18-C / 4015 Shopton Road, and 18-D / 3810 Shutterfly Road) are owned by a joint venture between Trinity Capital Advisors and PCCP and are part of the venture’s four-building, 422,400 SF portfolio. The portfolio is now 93% occupied. In the existing portfolio, the joint venture has two remaining vacancies available for immediate occupancy:
18-A: +6,444 sf
18-D: +22,400 sf
The joint venture also owns 25 acres of land for development. Trinity Partners is currently marketing a 125,000 SF to 300,000 SF build-to-suit at the park to be developed by Trinity Capital. The build-to-suit is ideally located at Shopton Ridge’s highly-visible corner at Sandy Porter and Shopton Ridge Roads, in the heart of Charlotte’s popular southwest industrial submarket with easy access from I-485, I-85, and I-77, and adjacent to the airport and intermodal yard.
“Our new tenants are attracted to Shopton’s location; in the immediate vicinity of the Charlotte airport and I-485,” said Wood. “And 18-D offered both ScentAir and Norcomp first generation, shell condition space, and the unique opportunity to customize their office layout while benefiting from brand-new HVAC equipment, new restroom fixtures, and new, energy-efficient lighting in both office and warehouse areas.
“Parking was also a major benefit. The four-building portfolio provides substantial, uncongested surface parking with deep, four-row parking lots at the front of each building, and no other single-story office/warehouse building can offer that.”
“The late David Allen (founding partner at Trinity Capital) played an instrumental role in the evaluation and acquisition of these assets in 2013,” said Wood. “The significant leasing activity is a direct testament to his in-depth market knowledge and his belief that these high-quality buildings at Shopton Ridge represented a solid investment opportunity.”
“We’re extremely proud of Bill and his hard work. In just 18 months, we’ve taken the portfolio from 47% to 93% occupancy,” said Greg Schild, Director of Asset Management at Trinity Capital. “We look forward to leasing up the remaining 28,800 SF of vacancy and focusing on finding the right tenant for our build-to-suit opportunities.”
