- December 28, 2020
- Press Releases
Merritt Properties Breaks Ground on 74-Acre Industrial Park in Wake Forest
Merritt Capital Business Park Expected to Deliver Q3 2021
Merritt Properties is beginning construction on a 74-acre tract of land for the speculative development of Merritt Capital Business Park, a 452,500-square-foot light industrial business park in Wake Forest, North Carolina.
Merritt Capital Business Park will feature up to seven buildings ranging from 30,000 to 140,000 square feet. Each will offer 18 to 24-foot clear heights, traditional rear-loaded docks and drive-in capabilities, and free surface parking. Site plans were approved in June 2020.
“We’re thrilled for the new investment and job creation this development will produce for our rapidly growing community,” said Jason Cannon, president of the Wake Forest Business & Industry Partnership. “Wake Forest provides prime real estate in the Triangle for a project of this undertaking and we’re proud to partner with Merritt Properties on this development.”
This marks Merritt Properties’ second project in the region. The developer began construction on Merritt TW Crossing, a four-building light industrial park in Durham earlier this year. The site features more than 282,400 square feet of light industrial space, and the first building is nearly 90 percent leased. Adjacent to Research Triangle Park, Merritt TW Crossing is situated at the corner of TW Alexander Drive and S. Miami Boulevard at 3100 S. Miami Boulevard.
According to Keith Wallace of Merritt Properties, “Given Wake Forest’s growing business and industrial base, we determined the area would be an excellent location for our continued development in the region.” He added, “We are confident that Merritt Capital Business Park will meet the needs of small to mid-sized businesses seeking flex space for office and manufacturing or warehouse requirements.”
Pre-leasing is underway, and delivery is expected during the third quarter of 2021. Construction will be managed by Merritt Construction Services, the construction division of Merritt Companies.
Merritt Properties selected Colliers International as a leasing partner for Merritt Capital Business Park. The team will be led by Larry Lakins, Hunter Willard and Andrew Young.
“We are honored to have been selected by Merritt Properties to help oversee the leasing for this significant project,” said Lakins. “The Triangle continues to remain a strong industrial market and attractive destination for businesses looking for corporate expansions and relocations.”
Merritt is partnering with WithersRavenel, Maurer Architecture, Soil & Environmental Consultants, McKim & Creed, and S&ME, in addition to other local firms and subcontractors.
To learn more about Merritt Capital Business Park, visit Merritt-CBP.com.