One of several Summit-led ground-up development projects soon to start construction, Wendell Commerce Center in Raleigh, NC, recently held an event to officially kick off the $260 million project (upon complete buildout) and introduce the industrial park 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 189-acre industrial site in Q2 2024.
Wendell Commerce Center is a to-be-developed Class A, ±1,815,000 SF industrial park programmed for eight multi-tenant warehouse buildings constructed in multiple phases. Located east of Raleigh, NC, in Wake County, the site is just 0.5 miles from the entrance ramp to I-87 and Highway 64 (Wendell Blvd), providing direct access to Raleigh and its I-540 outer belt. To the east, I-87 converts to Highway 264, offering a direct eastward route to I-95 and ensuring efficient regional connectivity. With their flexible, multi-tenant designs, the park’s buildings are designed to attract a broad spectrum of modern users, including area manufacturing, distribution, transportation, and industrial service companies. Phase 1, representing ±494,000 SF, includes three Class A rear-load warehouses with 32’ clear heights and 185’ truck courts with trailer spaces. Vertical construction of Phase 1 is anticipated to begin in Q2 2025, and its three buildings are targeted for a Q2 2026 delivery.