{"id":1004105787,"date":"2014-10-17T14:20:38","date_gmt":"2014-10-17T22:20:38","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=299750"},"modified":"2021-05-14T16:53:20","modified_gmt":"2021-05-15T00:53:20","slug":"trinity-capital-advisors-and-dra-advisors-jv-acquires-584-ksf-400-south-tryon","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/trinity-capital-advisors-and-dra-advisors-jv-acquires-584-ksf-400-south-tryon\/","title":{"rendered":"Trinity Capital Advisors and DRA Advisors JV Acquires 584 KSF 400 South Tryon"},"content":{"rendered":"<p><em>By Eliza Theiss, Associate Editor<\/em><\/p>\n<div id=\"attachment_1004231064\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/400-S.-Tryon.png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004231064\" data-attachment-id=\"1004231064\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/oaktree-capital-nabs-charlotte-cbd-office-tower-for-134m\/400-s-tryon\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/400-S.-Tryon.png\" data-orig-size=\"1249,937\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"400 South Tryon\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;400 South Tryon&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/400-S.-Tryon.png?w=1024\" loading=\"lazy\" class=\"wp-image-1004231064 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/400-S.-Tryon.png\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/400-S.-Tryon.png 1249w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/400-S.-Tryon.png?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/400-S.-Tryon.png?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/400-S.-Tryon.png?resize=1024,768 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004231064\" class=\"wp-caption-text\">400 South Tryon<\/p><\/div>\n<p>Trinity Capital Advisors has been heating up the Charlotte commercial real estate market of late.  The company recently announced the <a href=\"https:\/\/www.commercialsearch.com\/news\/trinity-capital-advisors-announced-300ksf-office-tower-sells-313ksf-perimeter-woods-business-park\/\">sale of the 313,000-square-foot Permiter Woods Business Park<\/a> and the development of 1000 South Tryon, a new 300,000-sq.-ft. Class A office building set to rise in Charlotte\u2019s South End. In the latest news, it now purchases 400 South Tryon Street for an undisclosed amount.<\/p>\n<p>The 584,315-square-foot office tower was bought in a joint venture with DRA Advisors, LLC. According to the <em><a href=\"https:\/\/www.bizjournals.com\/charlotte\/blog\/real_estate\/2014\/10\/trinity-capital-and-dra-advisors-purchase-400.html\" rel=\"nofollow\">Charlotte Business Journal<\/a><\/em>, the partnership acquired the 33-story tower from an affiliate of UBS Realty Investors. The seller was represented by Cassidy Turley.<\/p>\n<p>A prized skyscraper of Charlotte\u2019s downtown core, 400 South Tryon is located between the city center and downtown Charlotte\u2019s popular cultural district, offering swift access to the BB&amp;T Ballpark, Bank of America Stadium and the Romare Bearden Park.  The Class B office building is 92 percent occupied, with Duke Energus as anchor tenant. Trinity partners has been contracted to handle leasing and property management.  400 South Tryon features an attached 526-car attached garage and a full-service restaurant.<\/p>\n<p>The acquisition is in line with DRA\u2019s office asset investment criteria that targets Class A and B properties with over 70 percent occupancy rates. It is also in line with Trinity;s investment strategy that focuses on acquiring and developing office, industrial and mixed-use assets in the Southeastern U.S. Trinity\u2019s recent activity also includes rounding out its ownership of the 517,392-sq.-ft., six-building Toringdon office park. It <a title=\"https:\/\/www.commercialsearch.com\/news\/cities\/charlotte\/trinity-partners-leases-176ksf-at-shopton-ridge-trinity-capital-buys-two-office-buildings-in-toringdon\/1004103085.html\" href=\"https:\/\/www.commercialsearch.com\/news\/cities\/charlotte\/trinity-partners-leases-176ksf-at-shopton-ridge-trinity-capital-buys-two-office-buildings-in-toringdon\/1004103085.html\">snapped up the last two properties<\/a>, and announced the development of Toringdon Way, a new 175,000-square-foot office property in the park.<\/p>\n<p><em><a title=\"MARKET SNAPSHOT: Charlotte Apartment Market on the Rise: Sales, Rents and Vacancies to Climb in 2014\" href=\"https:\/\/www.multihousingnews.com\/market-data\/market-snapshot-charlotte-apartment-market-on-the-rise-sales-rents-and-vacancies-to-climb-in-2014\/1004100679.html\">Click here<\/a> for further Charlotte market data<\/em><\/p>\n<p><em>Image via Google Street View<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Trinity Capital Advisors has been heating up the Charlotte commercial real estate market of late.<\/p>\n","protected":false},"author":49,"featured_media":1004231064,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1582,21743,21783,21742,21747],"tags":[34572,33919,37638,39202],"class_list":["post-1004105787","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-charlotte","category-deals","category-investment","category-latest","category-office","tag-cassidy-turley","tag-dra-advisors-llc","tag-trinity-capital-advisors","tag-ubs-realty-investors"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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