Aug
20

Two Charlotte Office Buildings Sold for $20 Million

By

Trinity Capital Advisors, in a joint venture with Stockbridge Capital Group and Madison International Realty, has purchased two more buildings at the Toringdon office park in south Charlotte for $20 million, giving the joint venture control of all six of the park’s buildings.

The Trinity joint venture purchased the Toringdon 3 building for $11 million and the Toringdon 5 building for $9 million from an affiliate of LNR Partners this month. Toringdon 3 totals 86,434 square feet and has 19,050 square feet available for lease. Toringdon 5 totals 72,440 square feet and has 29,360 square feet available.

The office park totals 517,392 square feet and is on Johnston Road, off Interstate 485. Trinity and its joint venture partners began investing in Toringdon in mid-2012, buying four buildings in the park, 12 acres of undeveloped land and a three-level parking deck over several months. The group had to wait two years to acquire the final two buildings, which LNR took ownership of after foreclosing on the previous owner in 2012.

READ MORE HERE

Be Sociable, Share!
    Categories : Charlotte

    Comments are closed.