Trinity Capital Advisors’ Five-Building Shopton Ridge Development Nears Completion; Announces Sale of Shopton 1
July 19, 2017
Trinity Capital Advisors’ Five-Building Shopton Ridge Development Nears Completion; Announces Sale of Shopton 1
Trinity Capital Advisors is pleased to announce the sale of Shopton 1, part of their five-building single-user industrial development in Shopton Ridge Industrial Park. The 69,000 SF single-story industrial building sold to AMTEX (American Tex-Chem Corporation), a premier manufacturer and distributor of quality hospitality and maintenance supplies.
Terry Brennan, Partner, Trinity Partners, represented Trinity Capital Advisors in the transaction. Don Beck with Interurban Properties, Inc represented the buyer.
“We are thrilled to kick off the cornerstone site of the new development with this sale. AMTEX is relocating from north Charlotte from a leased property, and this acquisition allows them to own their brand-new building with customization in place to fit their long-term needs,” said Brennan.
Trinity Capital, in a joint-venture partnership with PCCP, LLC, began construction on the five-building industrial development, owned in joint venture with PCCP, in 2016. Shopton 1 features tilt wall construction, 24’ clear height, eight dock doors, two drive-in doors, and an ESFR sprinkler system. Shopton 2 through 5, available for lease or sale, have just delivered and are ready for occupancy or sale. Ranging in size from 33,000 SF to 56,375 SF, the modern industrial buildings also feature tilt-wall construction and ESFR sprinklers, ideally located at the corner of Shopton and Sandy Porter Roads.
Trinity Capital initially purchased 25 acres of land and four buildings in Shopton Ridge Industrial Park in 2013. In April 2015, the firm sold the buildings and retained the land for future development.
“It’s rewarding to see the development plan come to fruition,” noted Sherrie Chaffin, Director of Development at Trinity Capital. “We were very deliberate when determining the type and size of buildings to develop at Shopton. The remaining four buildings meet the market demand for smaller buildings, and interest from prospects certainly supports that.”