Construction begins on Toringdon 7 at Toringdon Office Park
June 12, 2018
Charlotte, North Carolina – June 12, 2018 – Trinity Capital Advisors will begin construction of Toringdon 7 this month, the seventh and final office building in South Charlotte’s Toringdon Office Park.
The eight-story, 198,195 SF building’s shell construction is scheduled for completion by summer 2019. Toringdon 7 features nearly column-free floorplans, floor-to-ceiling windows, and a four-per-thousand parking ratio, along with unmatched visibility from I-485 and Community House Road.
“Trinity Capital is excited to kick off another Class-A office project, especially one that completes our vision for Toringdon Office Park,” said Sherrie Chaffin, Director of Development at Trinity Capital.
Trinity Capital is currently developing Perimeter Five, Perimeter Six, and 2200 Perimeter Park, three Class-A office buildings totaling 551,399 SF in Raleigh’s Perimeter Park Office Park.
Toringdon Office Park has been a part of Trinity Capital’s portfolio since 2012 when the firm acquired their first two assets in the park, Toringdon 3 and 5. After acquiring the remaining four buildings and bringing the entire park under single ownership, the firm invested in meaningful capital improvements including a full-service fitness center and pocket park, steadily increasing occupancy as the submarket’s popularity continued to grow.
“Toringdon is in one of Charlotte’s strongest submarkets due to its strong demographics, specifically as it relates to the number of decision makers located in the general area and the well-educated labor force,” said Walker Collier, Partner, Trinity Capital. “Trinity Capital is pleased to add to the park to satisfy the increasing tenant demand for infill, well-amenitized office space with walkable restaurants and living options. Developing Toringdon 7 is one of the final phases to the park that we started acquiring and repositioning in 2012.”
Trinity Partners is marketing Toringdon 7 for lease and is receiving strong demand based on the office park’s historical performance.
“After five years of working on Toringdon, we’ve watched this submarket continue to grow at a record pace,” noted Rhea Greene, Partner, Trinity Partners. “The existing six buildings have consistently outperformed the market, and continued interest in the park unquestionably supports Toringdon 7’s development. We anticipate making tenant announcements in the very near future.”
Toringdon Office Park is currently 95% occupied and home to respected firms like Blue Cross Blue Shield, Coats, Coldwell Banker, Crown Castle, Harsco, Keller Williams, Novolex, Pepsi, Regus, Selective Insurance, Heartland Payment Systems, and TIAA. The seven-building, Class-A office park is located immediately off I-485, between Johnston and Community House Roads, surrounded by walkable amenities at Toringdon Circle and Toringdon Market, and additional retail and restaurants in the popular Ballantyne submarket. The park’s 4,000 SF tenant fitness center is adjacent to Toringdon’s pocket park and urban green space, The Green. Beacon Investment Management Group opened Hampton Inn Hotel in 2017. The 120-room, six-story hotel is across from Profit-Dixon’s new 245-unit apartment community.
“Toringdon’s appeal, aside from the location, amenities, and building quality, is linked to a tenant’s ability to expand within the park,” said Jennifer Kurz, Director, Trinity Partners. “With the park at 95% occupancy, Toringdon 7 increases the opportunity for existing and potential tenants to grow their business in the heart of one of the city’s most attractive, amenitized and walkable office locations.”
Toringdon 7 was designed by Gensler. Brasfield & Gorrie is the project’s general contractor. D&A Wolverine is the civil engineer.
About Trinity Capital Advisors
Trinity Capital Advisors focuses on the acquisition and development of institutional quality commercial real estate in the southeastern United States. The firm has invested more than $2.3 billion acquiring and developing more than 18 million square feet of the most successful workplace real estate projects in North Carolina, South Carolina, Tennessee, and Florida, including CBD office towers, industrial portfolios, suburban office parks, and mixed-use developments. Investments are capitalized through various Trinity Capital investment vehicles and partnerships with some of the country’s top institutional investors.