Trinity Partners Now Leasing and Managing 77 Corporate Park

Trinity Partners is pleased to announce our latest leasing and management assignment, 77 Corporate Park. Recently acquired by Stockbridge Capital Group, the 13-building, 328,251 SF business park is bordered by Clanton Road, South Tryon Street, and I-77.

“We’re ready to re-introduce this park to the market,” noted Terry Brennan, Partner and Director of Industrial Property Services at Trinity Partners. “It wasn’t too long ago that this Park thrived. All of the fundamentals are in place, and you couldn’t ask for a better location. New, well-capitalized owners, strategic park improvements, and attentive management and maintenance will put it back on the map.”

As a part of the repositioning, the Park has been renamed to “South End Business Park” as a nod to the location at the entrance to Charlotte’s South End corridor. Stockbridge has begun immediate improvements, including façade upgrades along Clanton Road, an onsite management and leasing office, and pre-built spec suites ready for immediate occupancy.

“As South End continues to grow, South End Business Park will appeal to various tenant types who serve the area or want to be a part of the growth, from service vendors and contractors to food trucks and other park amenities,” noted Brennan. “We’re two blocks away from the light rail, adjacent to I-77, and surrounded by all of the amenities that have made South End one of Charlotte’s most popular neighborhoods.”

“Stockbridge is excited about our latest investment into Charlotte and the South End submarket. We believe the Park is well-positioned with great access to nearby amenities and major thoroughfares.” said Gary Hunter, Asset Manager and Vice President with Stockbridge. “The Park features a wide variety of suite sizes, build-out and visibility, but lacked capital and commitment from previous ownership. With the planned improvements and repositioning, we believe the Park will once again become the desired location for tenants within the submarket.”

The Park, currently 33% occupied, was in receivership prior to purchase. This latest acquisition expands Stockbridge’s existing regional portfolio to over two million square feet of office, industrial, retail, and multi-family assets around the region, including Toringdon Office Park, Afton Ridge Shopping Center, Steel Yard, and The Venue Apartments.

“Charlotte is a tremendous city with its well-established and growing workforce, strong education system, excellent transportation systems and great quality of life. This investment is Stockbridge’s eighth investment in the greater Charlotte market over the past three years,” noted Hunter. “Stockbridge now has approximately two million square feet in the market, including a million square feet of flex industrial in Northern Charlotte to complement this most recent investment.”

About Stockbridge
Stockbridge Capital Group, LLC is a real estate investment management firm which, together with its affiliates, has approximately $8.8 billion in real estate and real estate-related assets under management as of September 30, 2014. Stockbridge’s investment portfolio comprises more than 30 million square feet of existing office, industrial, retail, hospitality and residential properties throughout the United States. In addition to real estate ownership, Stockbridge also specializes in large-scale development and redevelopment projects. Stockbridge is headquartered in San Francisco with offices in Chicago, New York, Atlanta and Los Angeles. For more information, please visit www.stockbridgerealestate.com.