VISIONS Magazine (February March 2026 Edition)
SCOA Real Estate Partners Builds Momentum in the Industrial Sector
When SCOA Real Estate Partners (SREP) was established in April 2023, it was created with a clear purpose: to sharpen and accelerate SCOA’s real estate investment strategy across residential and industrial markets in the United States.
A wholly owned subsidiary of Sumitomo Corporation of Americas (SCOA), SREP builds on more than 35 years of SCOA’s U.S. real estate experience. From entering the apartment market in 1988 to expanding into industrial development in 2021 with Centre Park 20/35 in DeSoto, Texas, the foundation was already in place. SREP’s formation created a dedicated platform to move more quickly and deliberately in both housing and logistics infrastructure.
The two industrial projects closed in January 2026 — in Mooresville, North Carolina and Fridley, Minnesota — reflect that steady progression.
“Both of these projects reflect the long-term vision we set when establishing SCOA Real Estate Partners, which is to invest in high-quality best in class developments that strengthen local economies and support the growth of innovative companies,” said Joseph Zagranski, CEO of SCOA Real Estate Partners. “We are appreciative to partner with exceptional developers, Endeavor Development and Trinity Capital Advisors, and deliver best-in-class industrial facilities. We are fully aligned in helping to create environments where businesses can thrive, and communities can benefit for decades to come.”
Expanding into Build-to-Suit in Charlotte
The first project is an approximately 81,000-square-foot build-to-suit warehouse in Mooresville, North Carolina. The warehouse is fully leased to QA1, a manufacturer of automotive suspension, chassis, and steering components. For SREP, it marks both a continuation and a first — its second industrial project in the Charlotte metro and its first build-to-suit development.
“The site is located in Mooresville, NC, which is a strong industrial and advanced manufacturing corridor within the Charlotte MSA,” said Tyler Darden, Senior Vice President and Head of Industrial Investments at SREP. “Known as Race City USA, Mooresville has more than 60 motorsports teams, engineering firms, and specialized suppliers, creating a deep ecosystem of precision manufacturing talent.”
pictured above: artist's rendering of the future QA1 facility in Mooresville, North Carolina
Mooresville Business Park East sits within an established industrial submarket supported by national and regional tenants. The land was acquired from the Iredell County Economic Development Corporation, and the new facility provides QA1 with a purpose-built space designed to support its continued growth.
“We have been trying to expand our business into build-to-suit and are excited for this to be our first build-to-suit project,” Darden said.
The project also reflects a broader philosophy that guides SREP’s development decisions.
“Our mission statement is to create generational facilities that inspire pride for companies, employees and towns,” Darden said.
Jordan Quinn, Partner, Industrial at Trinity Capital Advisors, described the collaboration behind the project. “We're excited for this new partnership with SREP and the opportunity to work with QA1,” he said. “SREP’s successful investment strategy and our proven development experience will deliver a best-in-class asset that supports QA1's continued growth and success.”
Targeting Infill Opportunities in Minneapolis–St. Paul
SREP’s second January closing, River Edge Business Center in Fridley, Minnesota, reflects a complementary approach. The approximately 250,000-square-foot speculative development focuses on infill positioning within a mature logistics market.
“Minneapolis is a large MSA with a diverse and resilient economy,” Darden said. “It offers an infill central location with great connectivity, very limited land availability and one of the strongest concentrations of logistics and manufacturing labor in the market.”
pictured above: artist's rendering of the future River's Edge Business Center in Fridley, Minnesota
Infill sites in well-established markets require careful underwriting and patience. River Edge is designed to meet ongoing demand for modern industrial space in areas where new supply is limited.
“We are attracted to the infill nature of the project, barriers to entry, strong market fundamentals and limited options for tenants to be in new high-quality buildings,” Darden said. “Recent leasing has favored new buildings and there is limited new construction.”
The project’s layout includes significant trailer and vehicle parking — practical features that reflect how logistics users actually operate.
Josh Budish, Founder of Endeavor Development, highlighted the collaborative nature of the redevelopment. “We are excited to embark on the development of River Edge with SREP,” he said. “This project is another example of our efforts to identify the most attractive infill sites in the market and to work creatively and collaboratively with relevant stakeholders to re-envision and re-purpose obsolete buildings into new facilities that serve our clients and the communities they operate in. We are thankful for the partnership of SREP as we continue on this journey.”
A Platform Taking Shape
Since its formation, SREP has focused on building a disciplined, partnership-driven industrial platform. The firm’s Richmond, Virginia project with Lingerfelt — located near the intersection of I-95 and I-64 — further illustrates that strategy, emphasizing transportation connectivity and supply chain infrastructure.
Across markets, the approach remains consistent.
“We bring an experienced team, market knowledge, flexibility, quick decision-making speed, and we approach each project with the intention of a long-term partnership,” Darden said. “Additionally, we want to deliver high-quality projects that the tenants, towns, and our project team will be proud of.”
SREP is primarily targeting the Southeast and selectively the Midwest, while remaining open to additional markets as opportunities arise. With projects now spanning Texas, Florida, Virginia, North Carolina, and Minnesota, the industrial portfolio continues to grow in measured steps.
The result is not rapid expansion for its own sake, but a steady build, grounded in location discipline, local partnerships, and a long-term view of value creation.
