SAN DIEGO—Trigild has solidified a long-term deal with Charlotte-based Allegiance Realty Corporation to manage 16 Class A and B office buildings throughout the Midwest and Southeastern U.S.
The deal adds more than two million square feet in commercial real estate to the portfolio of the full-service real estate and hospitality services company, based here.
As part of the contract, Trigild will take over day-to-day operations of the 16 office buildings on February 1, overseeing all financial reporting, lease administration and other operational tasks. Additionally, said Brian Morelan, managing director, commercial real estate of San Diego-based Trigild, the firm will “carefully evaluate each property's respective needs, determining what will create the greatest value for Allegiance and its investors.”
The properties include:
- 3100 Presidential Drive, Fairborn, Ohio
- 1801 Stanley Road, Greensboro, NC
- 4905 Koger Blvd, Greensboro, NC
- 435 Second Street, Macon, GA
- 1003 Douglas Avenue, Nashville, TN
- 44 Old Ridgebury Road, Danbury, CT
- 11499 Chester Road, Cincinnati, OH
- 220 Stoneridge Drive, Columbia, SC
- 240 Stoneridge Drive, Columbia, SC
- 246 Stoneridge Drive, Columbia, SC
- 433 N. Summit Street, Toledo, OH
- 901 Tower Drive, Troy, MI
- 1725 Windward Concourse, Alpharetta, GA
- 1725 Windward Concourse, Alpharetta, GA
- 2001 Park Place North, Birmingham, AL
- 142 Lincoln Square, Santa Fe, NM
According to Bill Hoffman, Trigild's president and CEO, this deal marks the beginning of what each firm envisions as a long-term venture, in which the companies will collaborate on various projects – with Trigild concentrating on management and Allegiance on successful real estate investments.
The two companies will focus on commercial office building acquisitions with valuations ranging from $10 million to $50 million.
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