Trinity Commerce Center sells to tenant
Published: March 7, 2013
Time posted: 3:35 pm
Charlotte-based Trinity Capitol Advisors has sold the Trinity Commerce Center in Greenville to a tenant, Sunland Distribution, for an undisclosed amount.
Dunn Mileham, director of investment sales for Trinity Partners, a commercial real estate firm, represented the seller in the Feb. 22 sale.
Trinity Partners is a commercial real estate firm serving corporate users and institutional owners throughout the U.S. The firm has offices in Raleigh and Charlotte and also operates in Greensboro, Sanford and other parts of North Carolina.
The building, originally a distribution center for Pillowtex, was vacant when Trinity Capital purchased it in 2007 and converted it into a 607,400 square foot multitenant warehouse.
According to a press release from Trinity Partners, the building is 100 percent occupied with two tenants, including the new owner. The release said Sunland Distribution operates the nation’s largest Scotts Miracle-Gro distribution center from the property.
Revere Mills International leased 180,000 square feet in the building in 2010 and will remain as the second tenant, Mileham said.
“We did run a process and there were other investors that were interested in the property,” Mileham noted. “The tenant (Sunland Distribution) just happened to be as competitive, if not more so, than their competitors.”