Trinity Partners Leases 176KSF at Shopton Ridge; Trinity Capital Buys Two Office Buildings in Toringdon
- Aug 29, 2014
Southwest Charlotte’s Shopton Ridge Industrial Park has been experiencing an upsurge in occupancy over the past 18 months, going from 53 percent vacant to 93 percent occupied.
Trinity Partners’ Bill Wood has been in charge of doubling the property’s occupancy rate and continues to further market the remaining 28,844 square feet of unoccupied space at a 422,400-square-foot industrial park. Most recently, Woods signed leases for 176,000 square feet, bringing the vacancy down to seven percent.
Among the newly signed tenants is Pinpoint Warehousing Inc., a Charlotte-based third party logistics company. Pinpoint has taken over 102,400 square feet in building 18-B and will move its corporate offices to Shopton in September, while also maintaining its existing warehouse on Granite Street. Pinpoint was represented by Whiteside Industrial Properties.
Represented by Mohr Partners, ScentAir has signed 57,600 square feet in Building 18-D, which it will take over by early 2015. The third newly signed tenant, Norcomp, will relocate its existing Charlotte operations in November to the 16,000-square-feet it contracted in Shopton. Norcomp was represented by Sperry Van Ness Percival Partners.
Offering 422,400 square feet of Class A office/industrial space, Shopton Ridge Industrial Park is owned by a joint venture comprised of Trinity Capital Advisors and PCCP. It consists of four buildings: 18-A, 18-B, 18-C and 18-D. The joint venture also owns 25 acres of undeveloped land at Shopton Ridge and is currently marketing a 125,000 to 300,000-square-foot built-to-suit project for the site. The partnership purchased its Shopton Ridge holdings between January and August 2013.
Trinity Capital has been busy of late, recently announcing the purchase of the Toringdon 3 and 5 office buildings in a joint venture with Stockbridge Capital.
According to the Charlotte Business Journal, it paid $11 million for Toringdon 3 and $9 million for Toringdon 5. The acquisition has given the partnership controlling power over all the six buildings that make up the 517,392-square-foot office portfolio, the parking deck and 12 acres of undeveloped land. Trinity Capital is also marketing 100 Toringdon Way, a 175,000-square-foot Class A office building slated for development.
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Images courtesy of Trinity Partners and Trinity Capital