Trinity Partners announces the sale of two properties located in RiverStone Business Park in Forest City, North Carolina

Taylor Nunnally

Charlotte, North Carolina – March 20, 2019 – Two industrial buildings located in RiverStone Business Park in Forest City, North Carolina, have officially sold to an entity affiliated with Cardinal Industrial and MacHom, LLC, Trinity Partners is pleased to announce. Dunn Mileham, David Morris, and Terry Brennan of Trinity Partners handled the transaction on behalf of the seller, an affiliate of Stonecutter Mills Corporation, located in Spindale, North Carolina.

The investment sale included two highly-functional industrial facilities totaling 228,254 SF located in an approximately 1,000 AC master-planned business park in Rutherford County (NC). These net-leased, Class-A properties are strategically situated on US 221, between Interstate 40 and Interstate 85, and are currently 100 percent occupied by two high-quality manufacturing tenants, Meritor Heavy Vehicle Systems (NYSE: MTOR) and ProAmpac, a Pritzker Group Company.

“Investor appetite for the assets was strong, given the outstanding regional market fundamentals, high-credit and tenured tenancy, and institutional quality design and construction of the assets,” said Dunn Mileham, Division Partner, Investment Sales at Trinity Partners. “Industrial real estate continues to be aggressively pursued by investors. This offering was extremely well-received by buyers seeking yields not available in primary and strong secondary markets.”

About Trinity Partners
Trinity Partners is a full service commercial real estate firm serving corporate users and institutional owners throughout the United States, with nine service lines ranging from landlord and tenant representation to property management and investment sales. Trinity currently leases and/or manages over 16 million square feet of space across the region through our four offices in Charlotte and Raleigh, North Carolina, and Greenville and Columbia, South Carolina.