Midlands Biz SC: Trinity Capital moves forward on four buildings at Palmetto Commerce Parkway
Development covers 78 acres, four buildings
Trinity Capital Advisors (TCA), a commercial real estate development and investment firm based in Charlotte, N.C., is moving forward with development of four buildings at Tradepark East at Palmetto Commerce Parkway here. Construction is underway on the 850,000 square feet of Class-A industrial space, which will be completed in 2022.
Building One, the park’s largest building, is cross-docked and totals 342,160 square feet with 36-footclear heights. Buildings Two and Three total 174,720 square feet each and Building Four will be 145,600 square feet. Palmetto Commerce Park is located in one of Charleston’s strongest industrial submarkets and is home to some formidable companies including Federal Express, Daimler Vans Manufacturing, Home Depot, and The Boeing Company, among others.
“Trinity Capital’s timing is spot on. Interest in both Charleston and the Port area is showing no signs of slowing, and there’s a notable lack of industrial supply. Tradepark East will attract a diverse range of manufacturers and distributors looking to take advantage of all that Charleston area has to offer,” said Lee Allen, managing director at JLL. He and Kevin Coats, executive vice president at JLL, are handling leasing on the project.
“When we re-entered the Charleston market early this year, we anticipated the market demand would increase and that fundamentals would remain favorable,” said Massie Flippin, partner at Trinity Capital. “Having witnessed that, we’re enthusiastically accelerating our development plans and expect the quality of the product, location, and strategic access will drive significant demand from a diverse range of manufacturers and distribution companies,” Flippin added.
General contracting services at Tradepark East are being performed by Frampton Construction. The design firm is DMA Architecture, and Reveer Group serves as the civil engineering team.
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 $3.5 billion acquiring and developing more than 25.6 million square feet in North Carolina, South Carolina, Tennessee, and Florida, including CBD office towers, industrial portfolios, 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 www.trinitycapitaladvisors.com or call (704) 714-4515.