Oct
07

New Hotel Proposed for Charlotte’s Toringdon

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Trinity Capital Advisors is bringing a new hotel to Toringdon and also has signed TIAA-CREF to a 24,190-square-foot lease at the south Charlotte office park.

Beacon Investment Management Group has agreed to purchase an outparcel at Toringdon along North Community House Road, where it plans to build a new six-story Hampton Inn & Suites. The Charlotte-based hospitality firm plans to start construction this fall and complete the 120-room hotel in late 2015 or early 2016.

Beacon IMB, headed by Nish Patel, has three hotels in the Charlotte region, with properties in Pineville, Davidson and Salisbury.

Trinity Capital Advisors, in a joint venture with Stockbridge Capital Group and Madison International Realty, now owns all six of the office buildings at Toringdon after purchasing the final two this summer for $20 million. In April, Trinity won a rezoning for 8.5 acres of undeveloped land, including the hotel outparcel, that allows for the development of up to 200,000 square feet of general and medical office space, 120 hotel rooms and up to 13,000 square feet of space for retail, restaurant, bank and personal services uses. Trinity is marketing a new seven-story, 175,000-square-foot office building at the park.

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