Trinity Partners Announces Sale of Arrowridge Business Park

Trinity Partners is pleased to announce the sale of Arrowridge Business Park in Charlotte, North Carolina, to a partnership formed by Childress Klein and WHI Real Estate Partners. Dunn Mileham and David Morris of Trinity Partners handled the sale on behalf of the seller, Medalist Properties, located in Richmond, Virginia.    

“We appreciate the opportunity to partner with WHI Real Estate Partners on another project,” said Landon Wyatt, Industrial Partner at Childress Klein.

“Arrowridge Business Park is in an ideal location with the ability to provide a variety of solutions for companies of any size.”

Located in the Stateline industrial submarket, the property consists of four multi-tenant office/warehouse buildings totaling 194,560 square feet and is situated off of Arrowood Road at the intersection of Interstates I-77 and I-485. At the time of sale, the property was 100 percent occupied by more than 20 tenants. Childress Klein currently owns four office/warehouse buildings also located in the park.

“Investor appetite for the asset was very strong, given the outstanding market fundamentals, and strong performance at the property,” said Dunn Mileham, Director of Investment Sales at Trinity Partners.

“The highly accessible location combined with proximity to some of Charlotte’s more dense and affluent residential areas make the property a preferred location for service businesses.”

Trinity Partners’ successful track record at Arrowridge began over a decade ago and was originally led by Bill Wood, Director of Industrial Property Services as well as Heather Thompson, Partner and Director of Trinity’s Property Management team. Subsequent to Medalist’s purchase, William Maxwell, Industrial Property Broker, has overseen leasing at Arrowridge and has been instrumental in achieving 100 percent occupancy at the park, which was the primary impetus for the sale.