Dogwood Industrial Properties acquires Class A industrial campus in Charleston
JLL Capital Markets closed the sale of TradePark East on behalf of Trinity Capital Advisors
CHARLESTON, December 1, 2022 – JLL Capital Markets announced today that it has closed the sale of TradePark East, a brand-new four-building Class A industrial campus totaling 837,400 square feet in Ladson, South Carolina.
JLL represented the seller, Trinity Capital Advisors, in the sale to TPG Capital/Dogwood Industrial Properties.
TradePark East consists of four newly completed buildings that were 100% pre-leased during construction. According to JLL’s Charleston Industrial Insights Q3 2022, the supply-constrained market has seen increased development activity as tenants have begun signing on earlier in the development cycle.
Positioned approximately 13 miles from downtown Charleston, tenants can serve the region’s growing population as well as corporate economic drivers. The park, which is located on Weber Boulevard, benefits from its proximity to regional highways, including Interstates 26, 526 and 95 and US-78. This transportation network allows tenants to reach 21 major cities throughout the east coast, south and midwest within a day’s drive. TradePark East further benefits from the nearby Charleston International Airport and growing Port of Charleston terminals.
The JLL Capital Markets Industrial team representing the seller was led by Managing Director Patrick Nally, Senior Managing Director Pete Pittroff, Director Dave Andrews and Associate Josh McArdle.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of September 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Trinity Capital Advisors
Trinity Capital Advisors focuses on the acquisition and development of institutional-quality commercial real estate in the southeastern United States. The firm has invested more than $4.2 billion acquiring and developing more than 29 million square feet of the most successful workplace real estate projects in North Carolina, South Carolina, Tennessee, and Florida, including CBD office towers, industrial portfolios, life science parks, suburban office parks, and mixed-use developments. Investments are capitalized through various Trinity Capital investment vehicles and partnerships with some of the country’s top institutional investors. Learn more at trinitycapitaladvisors.com.
About TPG Capital/Dogwood Industrial Properties
TPG is a leading global alternative asset management firm founded in San Francisco in 1992 with $127 billion of assets under management and investment and operational teams in 12 offices globally. TPG invests across five multi-product platforms: Capital, Growth, Impact, Real Estate, and Market Solutions and our unique strategy is driven by collaboration, innovation, and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities. For more information, visit tpg.com or @TPG on Twitter.
Established in 2009, TPG Real Estate Partners currently has approximately $6 billion of assets under management, with investments across various asset classes in the United States and Europe. Dogwood, established in 2019, is a dedicated owner-operator of logistics space across the United States focused on delivering value to our tenants and investors. Since inception, Dogwood has acquired nearly 12M feet of infill, multi-tenant logistics space across 130+ properties located in high growth metropolitan areas in the United States. Focusing on functionality and locations with high barriers to entry, Dogwood strives to build a logistics driven portfolio that caters to the needs of the modern global supply chain. With presence in 13 metro areas, Dogwood’s portfolio is comprised of light bulk and shallow bay distribution facilities in last mile locations providing for key opportunities for Dogwood’s increasing demand in high-growth markets and new e-commerce demand. For more information, visit dogwoodindustrial.com.