Sometimes repositioning a property means reintroducing it to the market, Trinity Partners partner and director of industrial property services Terry Brennan, who recently summited Mt Rainier, tells us.
That's what Trinity plans to do for 77 Corporate Park, a 13-building, 328k SF business park bordered by Clanton Road, South Tryon Street and I-77. Stockbridge Capital Group recently acquired the property out of receivership, and tapped Trinity to manage and lease it. Currently, it's 33% occupied. “It’s the capitalized, dedicated owners who are ready to make deals happen, the pre-built suites, and responsive, on-site management that will revive the park.”
It wasn’t too long ago that this park thrived, Terry says. Market fundamentals in the South End are in place for that to happen again. As a part of the repositioning, the Park has been renamed South End Business Park as a nod to its location. Stockbridge has begun immediate improvements, including façade upgrades along Clanton Road, an on-site management and leasing office, and spec suites ready for immediate occupancy.
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