Trinity's Dunn Mileham Sells the Linville Building; Firm to Retain Leasing and Management

We’re pleased to announce the sale of North Charlotte’s Linville Building to a Toronto-based public REIT. Trinity Partners will continue to manage and lease the building for the new owner. Dunn Mileham, Director of Investment Property Sales, represented the building’s owner.

Located directly across from Northlake Mall in the Perimeter Woods development, the five-story, 118,497 SF building is currently 96% occupied thanks to Trinity Partners’ John Ball. Working closely with the Trinity Partners’ property management team, Ball leased over 100,000 SF from 2009 to 2011, establishing The Linville Building as the North submarket’s premier Class A office building.

“Our extremely focused marketing and leasing efforts identified prospects from all over the region,” Ball said. “Once we toured tenants on-site, the building told its own compelling story, enabling us to consistently lease space in a challenging economic climate.”

The building sold for $19 million. Mileham noted the building and Charlotte’s strong fundamentals attracted a diverse group of potential buyers.

“The Linville Building is a quality asset,” said Mileham. “After filling the building with top-tier tenants like Positec, Shapiro and Ingle, and Regus, it was well-positioned for sale. The interest in high-quality assets like Linville is a testament to Charlotte’s appeal for institutional investors, especially as the market continues to improve.”