By Laura Calugar
SunCap Property Group has broken ground on a 215,000-square-foot facility for Tristone Flowtech USA in Mooresville, N.C., where the German manufacturer will invest $23.6 million and create more than 300 jobs. The build-to-suit project will span 22 acres in the Mooresville Business Park East industrial campus. Yeargin Potter Smith Construction is the general contractor. Colliers International represented Tristone in the lease transaction, while Parker Poe served as counsel and site consultant. Work is underway and vertical construction will begin this month. Project completion is scheduled for November.
The plant will produce engine cooling hose systems, air charge hose systems and fluid battery cooling systems for the American and Canadian automotive industries.
Tristone Flowtech USA is a subsidiary of Tristone Flowtech Group, headquartered in Frankfurt, Germany. This will be the company’s second facility in North America after opening a new plant in Delicias, Mexico.
Fourth industrial project in the area
SunCap has recently been active in the Carolinian automotive market. Since the company’s inception in 2009, the commercial real estate development, investment and advisory firm delivered three other projects in the Charlotte area—two FedEx Ground distribution facilities in Concord’s International Business Park and a build-to-suit for Atrium Healthcare’s Mobile Medicine group. Last year, SunCap also delivered a 230,000-square-foot manufacturing facility for Magna Seating in Spartanburg, S.C., which it later sold to a private investor for $18.5 million.
“The automotive sector is a key economic driver in the Carolinas and we believe both original equipment manufacturers and suppliers will continue to view this region as an ideal location for these types of long term investments,” said Flint McNaughton, CEO & founding partner at SunCap, in a prepared statement.
Image courtesy of SunCap