CHARLOTTE, NC-A joint venture of Trinity Capital Advisors ad PCCP, LLC have acquired two Class-A industrial buildings here totaling 211,000 sf.
The buildings are housed in the 950,000-sf Shopton Ridge industrial park in the Southwest submarket of Charlotte, The buildings are approximately 45% leased and are located at the intersection of I-485 and Highway 160, company officials say. No terms of the purchase were released.
“This investment was an ideal fit for PCCP’s joint venture equity program because it was an off-market opportunity to acquire an institutional-quality, well-located industrial portfolio at an attractive basis,” said Kevin Chin, vice president with PCCP, LLC. “This is PCCP’s second transaction with Trinity Capital Advisors, a strong, hands-on operator with significant ownership experience in this market.”
PCCP, a real estate finance and investment firm, is headquartered in New York City. Trinity Capital Advisors, is a Charlotte-based real estate investment firm that currently manages and leases more than 3 million sf of industrial product between Charlotte and Raleigh.