Summit Real Estate Group has closed on a 190-acre land acquisition for Wendell Commerce Center in Wendell, N.C., and in July will begin developing in one of the fastest-growing communities in the Raleigh MSA.
It is the first of three development phases for an expansive industrial project to encompass 1.8 million square feet.
The initial phase of Wendell Commerce Center will feature three state-of-the-art industrial buildings, totaling approximately 493,000 square feet. It is expected to be completed by October 2025.
Upon completion, the entire site will include eight industrial buildings, strategically constructed over three phases. It is positioned in East Wake County and the City of Wendell, with access and connectivity to major interstates including I-87, I-540, and US 64.
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Zoned land is scarce in nearby Knightdale, Garner and Raleigh. Coupled with strong absorption and limited new construction options, this development is deemed ideal for businesses seeking modern industrial space.
Raleigh is developing as an industrial hub, particularly in the fields of energy management and automation, according to Yardi Matrix.
The completion of Wendell Commerce Center will not only meet current market demands but also contribute to the long-term economic vitality of the region.
Raleigh’s Warehouse District on transformative path
The future of Raleigh’s warehousing and the broader Warehouse District appears to be on a transformative path with several other large-scale developments underway, according to Yardi Matrix research.
These projects indicate a shift toward mixed-use developments that combine residential living with commercial and retail spaces, which could lead to a more vibrant and dynamic Warehouse District.
The focus on integrating public transit options like the Bus Rapid Transit line also suggests an emphasis on sustainable urban growth and improved connectivity within Raleigh. Overall, these changes are likely to enhance the appeal of the Warehouse District as a key destination for both residents and businesses.
Union West is a transit-oriented project being developed by a partnership between GoTriangle and Hoffman & Associates, which began construction in the fall and is expected to be completed in 2025. It will include a new regional bus station next to Raleigh Union Station and add 400 apartments, a hotel and retail space to the Warehouse District.
The Weld and Park City South projects near Dix Park will collectively add more than 1,000 apartments by the end of 2025, significantly increasing the density of housing in the area. The Weld will consist of two 20-story residential towers, with construction already begun on the first tower.
320 West South Street is a 20-story tower with 297 luxury apartments that Capital Square is developing in the Warehouse District. This development will also include a standalone parking structure and ground-floor retail space.