One of several Summit-led ground-up development projects currently under construction, US 1 North Commerce Center in Raleigh, NC, recently held an event to officially kick off Phase II of the development and introduce its two buildings to the local and regional business community. Foundry Commercial, the project’s leasing team, joined Summit in hosting the event, which nearly 40 commercial real estate professionals attended. Summit’s Arrowrock U.S. Industrial Fund IV acquired the 106-acre industrial site in Q4 2022.
US 1 North Commerce Center is a Class A, ±1,426,000 SF industrial park programmed for 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 US 1 corridor. With their flexible, multi-tenant design and 32’-40’ clear heights, the park’s buildings are designed to attract area manufacturing, distribution, and industrial services companies. Phase I, two multi-tenant warehouse buildings representing 394,740 SF, was delivered in Q3 2024 and is 89% leased to three tenants. Phase II, representing ±471,000 SF, includes two Class A rear-load warehouses with building depths of 210’ and 260’ and 185’ truck courts with trailer spaces. Construction of Phase II began in Q4 2024, and its two buildings are targeted for a Q2 2025 delivery.