News Trinity Partners announces latest transaction at Carolina Tradeport Industrial Park

Oct 28, 2021
Trinity Partners announces latest transaction at Carolina Tradeport Industrial Park

Concord, North Carolina – October 27, 2021 Trinity Partners is pleased to announce the latest transaction for Carolina Tradeport industrial park in Concord, North Carolina.

Prime Beverage Group, LLC (“Prime Beverage” or the “Company”) has leased the entire 277,253 SF Class-A industrial warehouse building at 215 International Drive, in Concord. The Company presently sub-leases 168,758 square feet of the building from another tenant but recently signed a new, direct lease for the remaining 108,495 square feet, with an automatic assumption for the sublessor’s space upon expiration of that lease. Occupancy of the new premises is expected this December. Headquartered in Kannapolis, Prime Beverage specializes in beverage packaging manufacturing, packing, storage, and distribution.

Trinity Partners’ Terry Brennan represented Carolina Tradeport, which is owned by INDUS Realty Trust (NASDAQ: INDT), in the transaction. Trinity Partners also manages the park, which is home to other tenants including Brooks Equipment, Elite Logistics, and Superfici America. Dianne Jones of Maxis Advisors represented Prime Beverage.

“We’re honored that Prime Beverage chose Carolina Tradeport as they continue to grow across the region,” said Brennan. “The timing worked out perfectly, as 215 International’s current tenant is vacating right before Prime moves in, leaving us with no downtime and keeping Carolina Tradeport fully leased.”

Carolina Tradeport is a three building, 520,000 square foot industrial park. INDUS acquired and developed Carolina Tradeport in two transactions, the first in 2017 with its purchase of 215 International Drive. In 2018, INDUS purchased a 22-acre parcel across the street and immediately commenced development of two additional industrial buildings (160 and 180 International Drive) totaling 283,000 square feet that were both delivered in late 2019. The industrial park is currently 100% leased.

“We are pleased to have Prime Beverage make 215 International Drive part of its long-term growth strategy” said Tim Lescalleet, Executive Vice President of INDUS. “Carolina Tradeport was developed to provide scalability, and the lease with Prime Beverage is an ideal endorsement.”

INDUS recently announced its newest acquisition, a fully leased, 128,000 square foot industrial/logistics building at 2345 Township Road. The Company’s Charlotte-area portfolio also includes the recently opened Carolina Tradeport II, 141,000 square foot build-to-suit for Amazon in north Charlotte on Old Statesville Road. INDUS currently owns approximately 1.2 million square feet across six high quality industrial/logistics buildings in the Charlotte market.

ABOUT TRINITY PARTNERS
Known for our entrepreneurial spirit and best-in-class performance, Trinity Partners is a full-service commercial real estate firm serving corporate users and institutional owners throughout the United States, with ten service lines ranging from landlord and tenant representation to property management and investment sales. Our respected team of commercial real estate professionals are directly responsible for our company’s success and collaborative culture. We currently lease and/or manage over 22 million square feet of office, industrial, mixed-use, and retail space across the region through our three offices in Charlotte and Raleigh, North Carolina, and Greenville, South Carolina.

ABOUT INDUS REALTY TRUST
INDUS is a real estate business principally engaged in developing, acquiring, managing and leasing industrial/logistics properties. INDUS owns 45 buildings totaling approximately 5.5 million square feet (including 35 industrial/logistics buildings aggregating approximately 5.1 million square feet) in Connecticut, Pennsylvania, North Carolina and Florida in addition to over 3,100 acres of undeveloped land.