The 13-building 77 Corporate Park has been renamed South End Business Park and is undergoing improvements after recently having been bought by Stockbridge Capital Group.
The 328,251-square-foot park at Clanton Road and South Tryon Street near Interstate 77 will now be managed by Trinity Partners.
“We’re ready to re-introduce this park to the market,” said Terry Brannan, Trinity Partners’ partner and director of industrial property services, in a statement. “New, well-capitalized owners, strategic park improvements, and attentive management and maintenance will put it back on the map.”
The park is 33 percent leased and was in receivership when purchased. Stockbridge, based in San Francisco, owns more than 2 million square feet of office, industrial, retail and multifamily space in the Charlotte area, including Toringdon Office Park, Afton Ridge Shopping Center, Steel Yard, and The Venue Apartments.
“The Park features a wide variety of suite sizes, build-out and visibility, but lacked capital and commitment from previous ownership,” said Gary Hunter, Stockbridge asset manager and vice president. “With the planned improvements and repositioning, we believe the Park will once again become the desired location for tenants within the submarket.”