Trinity Capital Advisors Acquires Research Tri-Center North III & IV in Durham, NC
July 20, 2016
Trinity Capital Advisors is pleased to announce its latest acquisition, Research Tri-Center North III and IV in Durham, North Carolina. The real estate development firm acquired the industrial assets in joint-venture with SilverCap Partners.
This is Trinity Capital’s third acquisition in the Triangle as part of its Carolinas industrial program. The firm recently purchased 2910 and 2710 Weck Drive, with a goal of adding two million square feet of industrial assets in key markets that include Raleigh-Durham and Charlotte, North Carolina, and Greenville and Charleston, South Carolina.
“Tri-Center is in excellent condition and a great location,” noted Jeff Sheehan, Partner at Trinity Capital. “Our improvement program will enhance its functionality, making it even more attractive to prospective tenants.”
Located at 3508 Tri-Center Boulevard in Durham, Research Tri-Center North III & IV is a 272,396 square foot warehouse/distribution facility and partially occupied by AMCOR. Features include 25 dock-high doors, 40’x 40’ column spacing, ESFR sprinkler system and large truck court with abundant trailer parking.
Trinity Capital plans to redevelop Tri-Center North III and IV with capital improvements that include additional parking and docks, upgraded T-5 fluorescent lights, and paved access off of Alston Avenue, converting the building to a traditional rear-loaded facility. Ownership will also reorient the office area to enhance the assets’ flexibility and functionality.
Bryan Everett, First Vice President with CBRE|Raleigh, handled the transaction on behalf of the seller, B F Properties II, NC, LLC. Everett and CBREIRaleigh’s Daniel Jackson will handle leasing for the property on behalf of Trinity Capital and SilverCap Partners. Trinity Partners will manage the building.
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 over $1.8 billion acquiring and developing over 13 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. For more information about Trinity Capital, please visit our website 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 office, retail, and residential investments. SilverCap places a priority on opportunities where a combination of capital and operator expertise can serve as a positive catalyst for future value.