Trinity Partners announces the sale of One & Two Fairview Center
Charlotte, North Carolina – Sept. 15, 2021 – One & Two Fairview Center, a 182,841 SF, two-building office park located in the SouthPark office submarket in Charlotte, North Carolina, has officially sold to an entity affiliated with Taurus Investment Holdings, Trinity Partners is pleased to announce. Dunn Mileham and David Morris of Trinity Partners handled the transaction on behalf of the seller, an affiliate of CapRidge Partners, a real estate investment firm headquartered in Austin, Texas.
At the time of sale, the two-building park was approximately 93% occupied. After purchasing the properties in early 2019, CapRidge executed an extensive capital improvement, spec suite and leasing plan to accentuate the park’s unrivaled location across from SouthPark Mall. Excellent visibility and access to Fairview Road, abundant parking, and proximity to decision-maker housing in the neighborhoods surrounding the properties position the investment for continued stability and strong performance.
“CapRidge’s success at One & Two Fairview Center offers a prime example of how the combination of continued economic growth, high barriers to entry, and a value-driven philosophy coupled with a strategic, well-executed investment and leasing plan creates a platform for strong performance,” said Jason Levine, Director at CapRidge. “CapRidge’s customer service-focused approach to management, a vision for the properties’ potential that was shared by our leasing team, Trinity Partners, and their execution of the leasing strategy, were essential to the substantial value we created.”
Trinity Partners leased the park on behalf of CapRidge.
“Investor interest in the properties was very strong given the trophy location, high-quality tenancy, submarket-leading parking, well-maintained construction, and the dense amenities surrounding the properties,” said Dunn Mileham, Division Partner, Investment Sales at Trinity Partners. “CapRidge knows the Charlotte market extremely well and has been particularly adept at enhancing value-add properties in prime locations. David and I were encouraged by the depth of the buyer pool and the continued commitment to Charlotte the investment community demonstrated, despite COVID-related setbacks.”
ABOUT CAPRIDGE PARTNERS
CapRidge Partners is a vertically integrated investment management company with decades of experience as both a local operator and an institutional investor. Their strategy is to acquire well-located office and flex/light industrial assets in nine select U.S. markets, including Charlotte. They target assets that offer opportunities to add value by providing proactive management, delivering enhanced customer service and wellness amenities, leasing to stabilized occupancies, marking-to-market expiring leases, and completing capital projects. Since 2012, CapRidge has acquired 53 office and flex/light industrial buildings.
ABOUT TRINITY PARTNERS
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. They are known for their entrepreneurial spirit, best-in-class performance, and respected team of commercial real estate professionals, who are directly responsible for the company’s success and collaborative culture. The firm currently leases and/or manages over 22 million square feet of office, industrial, mixed-use, and retail space across the region through their four offices in Charlotte and Raleigh, North Carolina, and Columbia and Greenville, South Carolina.
ABOUT TAURUS INVESTMENT HOLDINGS
Taurus Investment Holdings is a global private equity real estate firm. The firm has over 40 years of experience as a general partner, investor, and operator, and is an active deal participant in fifteen markets around the world.
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