Trinity Capital Advisors Sells Five-Building North Carolina Industrial Portfolio
June 18, 2018
Charlotte, NC – June 18, 2018 – Trinity Capital Advisors has sold a five-building industrial portfolio to Rialto Capital Management. The portfolio includes the following assets:
– 1001 Bond Street in Charlotte: a two-building, 404,351-SF facility and one acre of land in the Northwest industrial submarket
– 4001 Performance Road in Charlotte: 187,000-SF single-tenant industrial building located in the Airport/West submarket
– 2710 and 2910 Weck Drive in Durham: two light-industrial facilities totaling 276,995 SF on 18.42 acres in the Research Triangle Park / Interstate 40 (RTP/I-40) submarket and home to two tenants
Trinity Capital acquired the two Weck Drive assets in April 2016. Both 1001 Bond Street (acquired in January 2017) and 4001 Performance Road (acquired in September 2017) were joint-venture partnerships with SilverCap Partners.
“We’re proud of this portfolio’s performance in two of our core markets,” noted Jeff Sheehan, partner at Trinity Capital Advisors. “The portfolio’s irreplaceable locations and quality of the assets supported our last-mile industrial investment thesis.”
HFF’s Chris Norvell and Patrick Nally handled the Bond Street and Weck Drive disposition, and JLL’s Britton Burdette and Pete Pittroff handled the Performance Road disposition on behalf of the landlord.
Prior to the sale of this industrial portfolio, Trinity Capital announced the sale of downtown Charlotte’s 400 South Tryon office tower, a 584,315-SF downtown Charlotte office tower, and the development of South Charlotte’s Toringdon 7, a 198,195-SF class-A office building currently under construction, to be delivered summer 2019. The firm is also 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.
“The robust capital markets have allowed us to take advantage of both our value-add industrial investment thesis and the class-A office development opportunities in attractive cities like Charlotte and Raleigh,” said Walker Collier, Partner at Trinity Capital. “We’re looking forward to what comes next as we continue to focus on our core markets in the southeast.”
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. Learn more at trinitycapitaladvisors.com.
About SilverCap Partners
SilverCap Partners is a real estate private equity firm focused on the southeastern United States. The firm’s expertise crosses multiple property sectors with a predominant focus on industrial, retail, and office investments. Visit silvercappartners.com for more information.