RALEIGH – A Charlotte developer will turn 48.3 acres of land in Research Triangle Park into an industrial park after buying the land from General Electric.
A huge GE plant is adjacent to the property which is just off TW Alexander Drive.
Trinity Capital Advisors plans to build three buildings totalling more than 440,000 square feet, according to commercial real estate firm CBRE.
CBRE Raleigh handled the sale, which was worth more than $7 million. CBRE announced the deal Friday.
The availability for industrial development in the Triangle market is scarce, especially near the Research Triangle Park and RDU International Airport. Once the site is fully built-out, it will offer much needed supply of industrial space in the RTP/I-40 submarket, a major economic driver and employment hub in the Triangle,” said Senior Vice President Barry Bowling of CBRE.
CBRE Land Servicces handled the sale with Bowling,Chester F. Allen, Carlton Midyette III, and Tiffany Hilburn representing the seller.
CBRE’s Industrial & Logistical Services Group will handle leasing for the site.
Trinity Capital plans to call the site the Alexander Commerce Park.
