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HFF announces sale of 4-building industrial portfolio in Charlotte and Raleigh-Durham

06/20/2018

CHARLOTTE, NC – June 20, 2018 – HFF announces the sale of a four-building industrial portfolio totaling 681,346 square feet in last-mile locations in both Charlotte and Raleigh-Durham, North Carolina.

The HFF team represented the seller, a partnership between Trinity Capital Advisors and SilverCap Partners.  Rialto Capital Management purchased the portfolio.

The portfolio comprises the two-building facility at 1001 Bond Street in Charlotte along with 2710 and 2910 Weck Drive in Durham.  Located in the Northwest Industrial submarket and within the Interstate 485 Loop, 1001 Bond Street provides access to Interstates 85 and 77, Charlotte Douglas International Airport and Uptown Charlotte.  Additionally, the facility is less than one mile from the North Carolina State Port Authority and the CSX Intermodal Terminal, the only CSX intermodal terminal in North Carolina.

2710 and 2910 Weck Drive are two light industrial facilities situated directly off TW Alexander Drive on 18.42 acres within the Research Triangle Park/Interstate 40 (RTP/I-40) submarket and adjacent to the world-renowned Research Triangle Park, one of the largest dedicated research parks in the world and a significant economic driver of the Raleigh-Durham region. This infill location positions the buildings at the epicenter of major transportation arteries, including the future Interstate 885 (Durham Freeway) and Interstates 40, 540 and 85, known as the industrial backbone of the Southeast.  The 276,995-square-foot Weck Drive buildings are fully leased to two tenants and have recently undergone capital improvements.

The HFF investment advisory team representing the seller consisted of senior managing director Chris Norvell and director Patrick Nally.

“The investor appetite for industrial assets in the Carolinas is virtually insatiable, and ‘B-quality’ assets within infill locations are particularly strong,” said Norvell.  “It’s also an excellent opportunity for Rialto, given the opportunity to increase value via the lease-up of the Bond Street buildings.”

Holliday GP Corp. (“HFF”) is a North Carolina licensed real estate broker.

About Trinity Capital Advisors
Trinity Capital Advisors focuses on the acquisition and development of institutional quality commercial real estate in the southeastern United States.  The firm has invested more than $2.0 billion acquiring and developing over 16 million square feet of the most successful workplace real estate projects in North Carolina, South Carolina, Tennessee and Florida, including CBD office towers, industrial portfolios, suburban office parks and mixed-use developments.  Investments are capitalized through various Trinity Capital investment vehicles and partnerships with some of the country’s top institutional investors.  Visit trinitycapitaladvisors.com to learn more.

About SilverCap Partners 
SilverCap Partners is a real estate private equity firm focused on the southeastern United States. The firm's expertise crosses multiple property sectors with a predominant focus on industrial, retail and office investments.  Visit silvercappartners.com for more information.

About Rialto Capital Management 
Rialto Capital Management, together with its affiliates, is an integrated real estate investment and asset management company that invests and manages assets throughout the capital structure in real estate properties, loans and securities.  Rialto was formed in 2007, and has participated in the investment of billions of dollars of equity in real estate assets.   The company is headquartered in Miami, Florida, and with its affiliates have professionals operating in 13 offices throughout the United States and four offices in Europe.  Rialto’s executive management team is comprised of seasoned professionals who have been market leaders globally in CMBS securities investing, loan origination, distressed debt and commercial and residential properties through multiple cycles.  For more information, visit rialtocapital.com.

About HFF
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry.  HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing.  HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF).  For more information, please visit hfflp.com or follow HFF on Twitter @HFF.

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