Trinity Partners is pleased to announce the sale of Croft Station in Charlotte, North Carolina, to private investors affiliated with Miller Development, based in Charlotte. Dunn Mileham and David Morris of Trinity Partners handled the sale on behalf of the Florida based-seller, Croft Station, LLC. Tom Miller with Miller Development represented the buyer.
Located at 9115 Old Statesville Road, Croft Station is a 40,210 square foot multi-tenant office/warehouse (flex) building that sits prominently on the signalized corner of Old Statesville and Reames Road. The property was 86% occupied at the time of sale by tenants including Sherwin-Williams, Stanley, and Metrotech, among others.
“The property is anchored by two long-tenured, high-credit tenants in Sherwin-Williams and Stanley, which validated the location and investment thesis. The property has experienced stable occupancy over the years primarily due to the smaller, functional office/warehouse units and the highly visible location,” said Dunn Mileham, Director of Investment Sales at Trinity Partners. “Additionally, Miller Development has had a long history of investment in the Charlotte area and in particular with this asset class, which provided for a smooth and efficient process.”
Trinity Partners’ successful 10-year track record with Croft Station was led by Laura Baccich, Senior Property Manager, and William Maxwell, Industrial Property Broker. The firm will continue to manage and lease the property on behalf of the new owner.