One of several Summit-led ground-up development projects currently under construction, US-1 North Commerce Center in Raleigh, NC recently held a groundbreaking ceremony to officially kick-off the $164 million project (upon complete buildout) and introduce the industrial park to the local and regional business community. Several news outlets covered the event as well as Franklin County, NC Government who has been a strong supporter of the project since the beginning. The 106-acre industrial site was acquired on behalf of Summit’s Arrowrock US Industrial Fund IV in Q4 2022.
https://www.wral.com/story/us-1-north-commerce-center-breaks-ground-in-franklin-county/21062565/
https://www.youtube.com/watch?v=L5FLRPDjcx8
US-1 North Commerce Center is a to-be-developed Class A, ±1,382,400 SF industrial park with five multi-tenant warehouse buildings in Raleigh, NC. Located on the southern edge of the Franklin County industrial submarket, the site is 0.2 miles from U.S. Highway 1 which connects south to Raleigh (approximately 12 miles to the I-540 outer belt) and north to I-85 (approximately 27 miles). The park is uniquely positioned to serve north Raleigh and the growing businesses and households along the U.S.-1 corridor. With their flexible, multi-tenant design and 32’-36’ clear heights, the buildings are designed to attract area manufacturing, distribution, and industrial services companies. Phase I is to include two Class A multi-tenant warehouses with building depths of 210’ – 260’ and 185’ truck courts that include trailer spaces. Construction on Phase I began Q2 2023 and its two buildings are targeted for a Q1 2024 delivery.