Trinity Capital closes on sale of Charleston’s TradePark East Industrial Park
November 28, 2022
Trinity Capital Advisors recently closed on the sale of TradePark East. The four-building, 837,000 square foot class-A industrial development is the company’s first speculative project in the region and was fully leased before the first building completed construction.
The four buildings included in the sale are two 174,720 square foot buildings, one 342,160 square foot building, and one 145,600 square foot building.
Trinity Capital identified the market as being in the path of growth because of its convenient location, strategic access to the Port of Charleston and major highways, and the thriving business community. As Trinity Capital was putting development plans into place, they were approached by the ultimate buyer. The park went under contract before construction began.
“The fact that we were able to attract a buyer before construction began is a testament to the strength of the market,” said Walker Collier, Managing Partner, Trinity Capital. “I’m tremendously proud of the hard work and diligence our team put into identifying the site’s potential and delivering exceptional product that resonated with tenants.”
TradePark East is situated on 78 acres at Palmetto Commerce Parkway and Weber Boulevard in one of Charleston’s strongest industrial submarkets. Once complete, the park will be home to six tenants, including Bintelli, LLC, WYSE Logistics, and MD 3PL.
The JLL Capital Markets Industrial team represented Trinity Capital in the transaction, led by Managing Director Patrick Nally, Senior Managing Director Pete Pittroff, Director Dave Andrews and Associate Josh McArdle.
Trinity Capital will continue to develop in the region and is currently partnering with Iconic Equities on its second speculative development. Jedburg Logistics Park, located at 239 Jedburg Road in Summerville, South Carolina, will consist of two Class A industrial buildings totaling 780,000 square feet set on 115 acres. The park is set for completion in the second half of 2023.
“We’re excited to continue development and look forward to continued success in the region,” Collier said.
JLL’s Kevin Coats and Lee Allen are responsible for leasing at TradePark East and Jedburg Logistics Park. Frampton Construction is the general contractor.
Trinity Capital’s Industrial Portfolio
Trinity Capital’s significant investment in the industrial market throughout the last two years has established it as a major industrial developer in the Southeast region. Currently, the company has 23 industrial projects, totaling six million square feet, under construction. In addition to Jedburg Logistics Park, Trinity Capital is in the process of developing Alexander Commerce Park, 147 Exchange in Raleigh-Durham and in Gastonia, NC four recently announced speculative buildings as well as Delta Industrial Park.
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 $4.2 billion acquiring and developing more than 29 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, life science parks, 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.
