Shopton Ridge sold to Adler Kawa
April 30, 2015
Trinity Capital Advisors announces the sale of Shopton Ridge Industrial Park to Adler Kawa Real Estate Advisors. The 422,000, four-building portfolio is located in Southwest Charlotte. Trinity Capital purchased the buildings in joint-venture with PCCP in 2013.
Shopton Ridge was 42% occupied when purchased by Trinity Capital. The park, now 91% occupied, is home to notable tenants like PinPoint, ScentAir, Cardinal Heath, and Rent-A-Center. The buildings are ideally located in Charlotte’s popular Southwest submarket, minutes from I-485, I-85, I-77, Charlotte Douglas International Airport, and the Intermodal Facility.
“We’ve always believed in the Southwest submarket,” noted Walker Collier, Partner at Trinity Capital. “We anticipated the submarket’s growth and popularity, tracking these assets for some time before purchase.” Trinity Capital retained ownership of 25 acres of land at the park and is currently marketing the land for development.
“As we stabilized the Shopton buildings, this submarket dramatically expanded and improved,” said Greg Schild, Director of Asset Management at Trinity Partners. “Because of that, we intentionally retained the 25 acres of land for built-to-suit and leasing opportunities.”