A Houston-based industrial real estate investment firm recently entered the Charlotte market.

Triten Real Estate Partners acquired 3300 Westinghouse Blvd. in southwest Charlotte for $24 million on July 27, Mecklenburg County real estate records show. It financed the acquisition by rolling it into a national portfolio refinance with Invesco as the lender, Triten Principal Willie Ross said.

New York-based Green Dock Partners sold the property. The firm decided to sell after it completed redeveloping and stabilizing the site, said Jacob Solomons, a partner at Green Dock. It acquired the property for $7.5 million in 2023.

Chris Lloyd, Chris Skibinski, Henry Lobb and Gray Gaines of Avison Young represented the seller in the transaction. Triten represented itself.

Triten focuses on industrial outdoor storage and speculative industrial development, investing in Class A and B industrial properties. It also has offices in Dallas and Atlanta.

The Charlotte property fits into its industrial outdoor storage portfolio and strategy. The 30-acre site has a 90,000-square-foot industrial building fully leased to Tenax. The outdoor storage portion is leased to Logistics Terminal Co.

Triten plans to keep the property in its current form in the immediate future, but the location may allow for future redevelopment. There are also 3 acres that Triten plans to improve and lease out to a new tenant.

Triten was interested in the Charlotte market because of its population, job and industrial and manufacturing growth. It also sees Charlotte as a key market between Atlanta and Washington, D.C.

The firm plans to make more acquisitions in Charlotte and is particularly interested in acquiring land to develop.