Trinity Capital Advisors, SLI Capital, and Wheelock Street Capital Announce Development of New Mixed-Use Project at Venable Center in Downtown Durham
March 12, 2019
Trinity Capital Advisors, in partnership with SLI Capital and Wheelock Street Capital, have announced Venable Center’s newest addition, The Roxboro, a 202,000 SF Class-A office and retail development, which will include 200 luxury apartments.
The Roxboro, an eight-story building, will be the premier feature of Venable Center and will feature numerous amenities, including a sky deck lounge, fitness center and conference center.
“We’ve worked hard with our partners to design and develop a building that complements Venable’s existing historic buildings while offering the modern design, flexibility, and amenities that innovative, growing companies need,” said Jeff Sheehan, Partner, Trinity Capital Advisors.
With immediate access to the Durham Freeway, an East/West connector, the property is convenient to major regional interstates 40 and 85. Steps away from the Durham Bulls Athletic Park and American Tobacco Campus, it’s also in walking distance to award-winning restaurants and popular lunch spots in the downtown area.
Venable Center is a three-building, 87,416 SF, historic and revitalized campus in downtown Durham, situated at the intersection of South Roxboro Street and East Pettigrew Street. Offering a combination of office and lab space, the campus is currently home to the headquarters of Precision BioSciences.
CBRE Raleigh’s Brad Corsmeier and John Brewer with its Investor Leasing group will be handling the leasing efforts for The Roxboro.
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 SLI Capital
SLI Capital (www.slicap.com) is a Raleigh, NC-based real estate investment firm targeting real estate investments in institutionally liquid growth markets in the Southeastern United States. SLI employs an investment strategy that includes core allocations to income-oriented investments and non-core investments focused on opportunistic alpha generation. The firm invests across a variety of asset types and throughout the capital stack with an emphasis on multi-family and office.
About Wheelock Street Capital
Wheelock Street Capital was formed in 2008 by Rick Kleeman and Jonathan Paul, two veteran real estate private equity investors, each with over 25 years of broad real estate transaction experience across all major asset classes. Wheelock has since raised over $2 billion in capital commitments and is currently investing its fifth fund comprising $725 million of commitments from leading pension funds, endowments and foundations. Wheelock will invest in a broad range of real estate assets throughout the United States. The fund may invest directly or with high quality joint venture partners through a variety of capital structures and transaction types, including acquisitions, restructurings, and recapitalizations. Learn more at wheelockst.com.