A Charlotte-based firm plans to develop up to 850,000 square feet of Class-A industrial space in North Charleston.
Trinity Capital Advisors has acquired 78 acres in Palmetto Commerce Park and will develop the industrial project in phases. The first project will include a 340,000 square foot cross-docked building, anticipated to be completed in the second quarter of 2022.
The commercial real estate development and investment firm intends to then develop another three to four buildings in master-planned park — one of the largest industrial submarkets in Charleston.
“The greater Charleston industrial real estate fundamentals are highly favorable, with very low vacancy rates and solid demand across the board,” Trinity Capital partner Massie Flippin said. “We’re very excited about establishing a foothold in Charleston’s Palmetto Commerce submarket, which will provide our customers with exceptional access to the Port of Charleston and Charleston’s growing population base.”
Frampton Construction will perform the general contracting services, while Reveer Group has been hired as the civil engineering team. Leasing will be handled by JLL Charleston — particularly Lee Allen, managing director, and Keven Coats, executive vice president —and DMA Architecture will serve as the design firm.
Founded in 2001, Trinity Capital first invested in the Charleston market in 2010. Its most recent project includes North Charleston’s Class-A office building, Faber Plaza, which it developed in partnership with Durlach Associates.