News Trinity Partners Closes Sale of 11701 Goodrich Drive

May 14, 2013

Charlotte, NC – May 13, 2013 – Trinity Partners is pleased to announce the sale of 11701 Goodrich Drive, a multi-tenant distribution center in Charlotte, North Carolina. Boston-based Cabot Properties acquired the property from an undisclosed institutional seller.

Trinity Partners’ Director of Investment Sales, Dunn Mileham, represented the building’s owner in the transaction. Originally a build-to-suit for the footwear division of B.F. Goodrich Company, the property was occupied by Converse Shoes until 2003. It remained a single-tenant facility until 2008 when the seller successfully converted the asset into a functional 438,650 square foot multi-tenant warehouse. The building is currently 100% occupied.

“11701 Goodrich Drive is ideally positioned bulk storage space, situated just off of Westinghouse Boulevard. This location and its rail access make it the number one option for cost-effective storage space in the Southwest submarket,” Mileham said. “The sellers executed a successful multi-tenant conversion of the asset and achieved 100% occupancy during a challenging market, which serves as evidence of the demand for well-positioned industrial property.

Trinity Partners has brokered the sale of over one million square feet of industrial real estate this year, having sold a 607,400 square foot property in Greenville, South Carolina in March. Mileham notes an uptick in market activity, as indicated by Trinity Partners Investment Sales team’s recent activity. “We continue to see interest in the Charlotte market from both existing investors and, perhaps more importantly, new entrants to our market,” Mileham said. “We are actively marketing five opportunities of various product types and are pleased with the overall direction of the market.”