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Trigild Plans Long-Term Contract With Allegiance

TROY, MI - Adding more than 2 million square feet in commercial real estate to its portfolio, Trigild enters into a long-term deal with Allegiance Realty to manage 16 buildings in the Midwest and Southeast.

By Chip Barnett | Updated on January 18, 2013

TROY, MI – Trigild approved a contract solidified a long-term deal with Allegiance Realty Corp. to manage office buildings with more than 2 million square feet throughout the Midwest and Southeastern U.S.

Trigild will take over day-to-day operations of the 16 Class A and B office buildings on Feb. 1, overseeing all financial reporting, lease administration and other operational tasks.  Brian Morelan, managing director of San Diego-based Trigild, says the firm will evaluate each property’s needs and determine what will create the greatest value for Charlotte-based Allegiance and its investors.   The properties include: 901 Tower Drive, Troy, MI;  3100 Presidential Dr., Fairborn, OH;  1801 Stanley Rd., Greensboro, NC;  4905 Koger Blvd., Greensboro, NC;  435 Second St., Macon, GA;  1003 Douglas Ave., Nashville, TN;  44 Old Ridgebury Rd., Danbury, CT;  11499 Chester Road, Cincinnati, OH;  220 Stoneridge Dr., Columbia, SC;  240 Stoneridge Dr., Columbia, SC;  246 Stoneridge Dr., Columbia, SC;  433 N. Summit St., Toledo, OH; 1720 Windward Concourse, Alpharetta, GA; 1725 Windward Concourse, Alpharetta, GA;  2001 Park Place North, Birmingham, AL; and 142 Lincoln Sq., Santa Fe, NM. The deal is the start of what each firm sees as a long-term venture in which the companies will collaborate on projects, according to Bill Hoffman, Trigild President and CEO, with Trigild concentrating on management and Allegiance concentrating on investments.  “This is clearly a milestone in Trigild’s 37-year history,” Hoffman says in a press release. “Working with Allegiance will enable us to continue our rapid growth – allowing us to focus on long-term management and assist in raising capital – as well as continue to specialize in fiduciary services for lender clients.” The two companies will look at buying commercial office building in the $10 million to $50 million range. “The Allegiance team can now focus on core investment strategies – with a trusted partner to handle day-to-day strategic operating of properties,” Christopher Smith, founder and CEO of Allegiance, says in the release.

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