Development

A Charlotte real estate company bought a pair of tire company buildings for $12.2 million

A joint venture led by Charlotte-based Trinity Capital Advisors has picked up an industrial complex in northwest Charlotte for $12.2 million.

Located at 1001 Bond Street, off Freedom Drive, the two buildings total just over 404,000 square feet. The buildings are occupied by Camber Ridge, “a tire characterization research and development company” that’s developed a large indoor tire testing facility at the location.

Trinity Capital said the Bond Street buildings are a template of investments the company will seek in the future.

“Bond Street’s irreplaceable location, excellent condition, and stable occupancy make it an ideal addition to our growing industrial portfolio,” said Jeff Sheehan, partner at Trinity Capital, in a statement. “The last-mile location and proximity to interstates and the center of the city is exactly what we look for, and we’ll continue to invest in similar industrial assets throughout the region.”

Trinity Capital partnered with private equity firm SilverCap Partners, with whom they also partnered on a Durham acquisition last year.

“The industrial market across the Carolinas is fundamentally strong. We’ll continue to search for unique, foundationally-strong assets in last-mile locations,” said Sheehan.

Ely Portillo: 704-358-5041, @ESPortillo

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