Trinity Capital Advisors (“Trinity Capital”), in joint venture with Mortenson Properties, Inc. (“MPI”), have acquired 157 acres in Butner, North Carolina for the development of Falls Lake Industrial Park, a master-planned industrial project totaling 1,097,180 square feet across five Class-A buildings. This investment marks MPI’s first real estate investment in the region.

Falls Lake Industrial Park is designed to accommodate a diverse range of industrial users through flexible building sizes ranging from 102,060 to 297,920 square feet. The project will be developed in two phases. Phase I, totaling 364,140 square feet, includes two buildings with expected delivery in November 2026. Phase II will follow, including three buildings totaling 733,040 square feet with an anticipated delivery in April 2028. Mortenson will serve as General Contractor and lead construction operations throughout the multi-phase project.

The park’s location offers unmatched visibility, regional connectivity, and operational efficiency. With direct frontage on I-85, tenants will benefit from seamless access to the interstate network and major transportation corridors throughout the Southeast. The site also provides prominent exposure to the freeway, offering valuable branding and signage opportunities. Buildings will feature modern specifications and functional dimensions suited to a broad range of industrial, manufacturing, and logistics uses.

Granville County offers a highly qualified and motivated workforce supported by the Triangle’s top-ranked community college and major university system. The area has long been a hub for advanced manufacturing, home to respected companies such as Bridgestone Bandag, CertainTeed, NT Techno USA, Revlon, and Shalag, among many others while offering convenient access to major East Coast markets, strong transportation routes, and proximity to an international airport.

“Falls Lake Industrial Park represents a rare opportunity for tenants to secure Class-A industrial space at a highly competitive rate with immediate access to the region’s core submarkets,” said Jordan Quinn, Partner, Industrial at Trinity Capital. “The location offers the best of both worlds: proximity to Raleigh-Durham’s major employment and logistics centers, paired with the convenience, visibility, and value that comes with being just outside the most expensive pockets of the market. We’re excited to deliver a park that offers tenants modern design, exceptional access, and long-term operational advantages.”

“We are thrilled to embark on this partnership with Trinity Capital for the development of Falls Lake Industrial Park, marking Mortenson Properties first investment in the Carolinas,” said Ryan Bartley, Head of Investments at MPI. “This project represents the beginning of our growth in the region, as we look forward to making additional investments that will foster economic growth and opportunity. Falls Lake Industrial Park will offer market competitive, turn-key, flexible industrial space that will empower businesses and serve the growing needs of the community for years to come.”

Trinity Capital remains one of the most active industrial developers in the Triangle region. Over the past six years, the firm has deployed over $350 million in the Raleigh market, delivering 11 industrial buildings that were 100% pre-leased when delivered. Falls Lake Industrial Park continues this momentum with a project that is thoughtfully positioned to meet ongoing demand for high-quality, well-located industrial space.

Additionally, Trinity Capital recently announced the completion of the country’s largest manufacturing lease this year. Spark LS, the firm’s premier mixed-use life science and advanced manufacturing campus in Morrisville, has signed leases totaling 1.27 million square feet across existing buildings and planned build-to-suits at the Spark campus with a Morrisville-based global manufacturing leader.

“Our work in the Triangle over the past several years has shown just how strong and resilient this market truly is,” said Jeff Sheehan, Managing Partner at Trinity Capital. “Our projects have met with remarkable demand, and we expect Falls Lake Industrial Park to follow suit. We’ll continue to expand our development footprint across the region. The talent, infrastructure, business growth, and community support create an environment where high-quality industrial projects can thrive, and we’re committed to continuing to be a part of the region’s continued growth and success.”

Melonie Mickle with M2 Realty represented the seller in this transaction. Leasing for Falls Lake Industrial Park will be led by Al Williams, Justin Booth, and Austin Jackson of JLL.

ABOUT TRINITY CAPITAL
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 $4.5 billion acquiring and developing more than 30 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 MORTENSON PROPERTIES, INC.
Mortenson Properties, Inc. (MPI) is the real estate investment and ownership arm of the Mortenson family portfolio of companies, providing comprehensive real estate investment solutions to a broad range of customers. Through development and acquisition, MPI’s portfolio includes over $1.2 billion assets under management, 8 million square feet of industrial, medical office, life science, renewable energy, and office assets across Minnesota, Colorado, Utah, and Carolinas, and over 300 acres of developable land. Mortenson Properties is an integrated solutions provider alongside Mortenson providing equity and construction services with a key focus on sustainability. For more information, visit www.MortensonProperties.com.

ABOUT MORTENSON
Mortenson is a U.S.-based, top-25 builder, developer, and engineering services provider serving the commercial, institutional, and energy sectors. Mortenson’s expanding portfolio of integrated services helps its customers move their strategies forward, ensuring their investments result in high-performing assets. The result is a turnkey partner, fully invested in the business success of its customers. Mortenson has operations across the U.S. with offices in Chicago, Denver, Fargo, Iowa City, Milwaukee, Minneapolis, Nashville, Phoenix, Portland, Salt Lake City, San Antonio, and Seattle. For additional information, visit www.mortenson.com.