Merritt Kicks Off Raleigh-Durham Industrial Park Project
- Dec 30, 2020
Merritt Properties has broken ground on a speculative light industrial/flex project in Wake Forest, N.C. Merritt Capital Business Park is slated to encompass up to 452,500 square feet on 74 acres, with completion planned for the third quarter of 2021.
With site plans approved in the summer of 2020, the development is set to include up to seven structures between 30,000 and 140,000 square feet. Clear heights will range between 18 and 24 feet, and rear-loaded docks and surface parking will be available. The project is targeting small to mid-size tenants in search of flex space for office, manufacturing or warehouse purposes, Keith Wallace of Merritt Properties said in prepared remarks.
The property is situated along Ligon Mill Road and Unicon Drive, 5 miles southwest of the interchange between Interstate 540 and Route 1. Central Raleigh is 14 miles away, while Durham is 24 miles west.
Preleasing is underway, with Larry Lakins, Hunter Willard and Andrew Young of Colliers International in charge. Merritt Construction Services is the general contractor. WithersRavenel, Maurer Architecture, Soil & Environmental Consultants, McKim & Creed and S&ME are also involved in the project.
Earlier this year, Merritt broke ground on Merritt TW Crossing, another industrial project outside of Durham. The property will feature 282,471 square feet across four buildings. Shimadzu Corp. has signed a 7,305-square-foot lease within the first structure that is roughly 90 percent leased and is expected to deliver in January 2021.