One of several Summit-led ground-up development projects soon to be under construction, US-1 North Commerce Center in Raleigh, NC was recently featured in a press release that is posted below. The 106-acre industrial site was acquired on behalf of Summit’s Arrowrock US Industrial Fund IV in Q4 2022.
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 tenants that serve 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 is anticipated to begin Q2 2023 with its two buildings targeted for a Q1 2024 delivery.