Trinity, Barings Developing $120M Raleigh-Area Warehouse Venture

Trinity Capital Advisors and Barings are teaming up on a two-building warehouse project adjacent to the Research Triangle. The project costs are expected to exceed $100 million. Slated to be called the I-40 Exchange, the 336,000-square-foot project will include a 210,000-square-foot and a 126,000-square-foot warehouse. The first phase, which will include the two buildings, will break ground in September. The second phase will look a lot like the first with two additional speculative industrial buildings.

The Triangle Business Journal reports that the first phase should be complete around the fourth quarter of next year or the beginning of 2027, after which the second phase will commence.

Trinity Capital is active in the Triangle’s industrial sector. Butner okayed rezoning for the Falls Lake Industrial Park development on 157 acres off Interstate 85. The project calls for constructing five speculative industrial buildings totaling more than 1 million square feet of space. The company said at the time it would invest up to $130 million in the project.