Trinity Capital Advisors has begun construction on the Tradepark East project in Ladson, South Carolina. The developer will add four buildings with a total of 850,000 square feet of speculative, suit-fitting Class A industrial space. The JLL team will be responsible for leasing the project.
In January, Trinity Capital acquired 78 acres of land in the Palmetto Commerce Parkway Corridor for its next project. The company has adopted Frampton Construction as a general contractor, Revere Group for civil engineering, and DMA Architecture for design.
The first building, totaling 342,160 square feet, is a speculative development and will be online in the first quarter of 2022. The remaining three buildings are suit-fitting opportunities, ranging from 145,600 to 174,200 square feet.
Tradepark East Building 1 features a 36-foot-high clear and cross-dock configuration. The plan requires 66 docks, 4 drive indoors, 14 loading bays, and a 185-foot-deep truck court. The parking lot consists of approximately 230 spaces for employees and 98 spaces for trailers. The building also includes ESFR sprinklers, LED lighting and 800 amps of power.
Tradepark East is located along the Palmetto Commerce Parkway and in its eponymous industrial park. In recent years, Charleston County has built and improved a 10-mile road connecting Radson Road and Aviation Avenue to improve traffic distribution in the region. The main roads nearby are Interstate 26 and 526. This location provides access to Charleston Harbor, Charleston International Airport, and several terminals within 20 miles.
Major companies located in the Palmetto Commerce Parkway Corridor include FedEx, Daimler, Volvo, IFA Group and Boeing.
Growing in North Carolina and South Carolina
According to Trinity Capital partner Massy Flippin, Charleston’s industrial fundamentals are very favorable, vacancy rates are very low and demand is strong. Growth and demand are expected to be driven by ports, the city’s strong manufacturing bases, and the region’s deep labor pool, Flippin said in a prepared statement.
According to a JLL study, Charleston’s net absorption in the first quarter was approximately 560,000 square feet, while total vacancy rates reached 6.1%. According to CommercialEdge data, Charleston MSA has more than 4 million square feet of industrial space underway, including the 2 million square feet Wal-Mart distribution center in Dorchester County.
Trinity Capital is primarily located in the Charlotte and Raleigh-Durham markets, with approximately 3 million square feet of industrial land and more than 2 million square feet of office space. In February, the company topped 202,000 square feet. Office in downtown Durham, Partnership with SLI Capital. At Metro Charlotte, the company plans to build a one-million-square-foot industrial development Delta Industrial Estate in Gaston County.