{"id":1004774018,"date":"2025-10-08T05:19:45","date_gmt":"2025-10-08T13:19:45","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004774018"},"modified":"2025-10-09T06:35:00","modified_gmt":"2025-10-09T14:35:00","slug":"trinity-capital-jv-buys-charlotte-office-building-for-76m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/trinity-capital-jv-buys-charlotte-office-building-for-76m\/","title":{"rendered":"Trinity Capital JV Buys Charlotte Office Building for $76M"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/10\/image.png\"><img loading=\"lazy\" decoding=\"async\" width=\"409\" height=\"512\" data-attachment-id=\"1004774023\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/trinity-capital-jv-buys-charlotte-office-building-for-76m\/image-42\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/10\/image.png\" data-orig-size=\"409,512\" 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=\"440 South Church in Charlotte, N.C.\" data-image-description=\"&lt;p&gt;Image from the Yardi Matrix database&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;440 South Church is an office property in Charlotte, N.C.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/10\/image.png?w=409\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/10\/image.png\" alt=\"Exterior shot of 440 South Church, a 15-story, LEED Gold-certified office building in uptown Charlotte N.C.\" class=\"wp-image-1004774023\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/10\/image.png 409w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/10\/image.png?resize=240,300 240w\" sizes=\"auto, (max-width: 409px) 100vw, 409px\" \/><\/a><figcaption class=\"wp-element-caption\">The office building at 440 S. Church St. came online in 2009. <br><em>Image courtesy of Yardi Research Data<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Town Lane and Trinity Capital Advisors have purchased 440 South Church, a 388,657-square-foot Class A office building in Charlotte, N.C. The property changed hands for $75.8 million, the <em>Charlotte Business Journal<\/em> reported. EPIC previously owned the asset, Yardi Research Data shows.<\/p>\n\n\n\n<p>Trinity Capital developed the property also known as Ally Center in 2009 and sold it to EPIC in 2014 for $108.8 million, according to the same source. PNC Bank issued a $60 million acquisition loan for that transaction.<\/p>\n\n\n\n<p>Rising 15 stories at 440 S. Church St., the office building features floorplates averaging 26,753 square feet and 10,000 square feet of retail space. Its shared amenities include a fitness center and locker rooms, as well as a conference and training space.<\/p>\n\n\n\n<p>The LEED Gold-certified property was less than 40 percent leased at the time of sale. Its tenant roster includes Driven Brands and HDR Engineering, to name a few. <\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/office-industry-trends\/\">Office Real Estate Trends<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>The new ownership plans to invest more than $20 million for the renovation of Ally Center. Upgrades are expected to include the addition of hospitality quality lounges, enhancement of the street-level retail presence, as well as improvement of the building\u2019s systems, common areas and second-floor tenant amenity experience.<\/p>\n\n\n\n<p>Located in downtown Charlotte, the mid-rise is near Interstate 277, the Bank of America Stadium and the Truist baseball field.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-the-highs-and-lows-of-charlotte-s-office-sales\">The highs and lows of Charlotte&#8217;s office sales<\/h2>\n\n\n\n<p>Charlotte&#8217;s <a href=\"https:\/\/www.commercialsearch.com\/news\/top-markets-for-office-transactions\/\">office transaction volume<\/a> amounted to $430 million in the first three quarters of the year, with 18 properties changing hands for some $136.7 per square foot, Yardi Research Data shows. During the same interval of 2024, the metro&#8217;s investment sales had reached only $240 million; the 21 transactions registered back then averaged $165 per square foot.<\/p>\n\n\n\n<p>The drop in the average price per square foot marks a general trend across the U.S. Approximately 46 percent of office assets traded at a discount this year through July, according to <a href=\"https:\/\/www.commercialsearch.com\/news\/office-report-discounted-sales-multiply-pressures-persist\/\">a recent Yardi Matrix report<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The property traded for 30 percent less than its previous sale price. <\/p>\n","protected":false},"author":3619,"featured_media":1004774077,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1582,21783,21742,21747,32781],"tags":[33706,37638],"class_list":["post-1004774018","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-charlotte","category-investment","category-latest","category-office","category-southeast","tag-principal-real-estate-investors","tag-trinity-capital-advisors"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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