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Asset Summary

Acquisition Date Q2 2024
Size 451,200 SF
Property Type Industrial
Deal Profile Fund IV, Development
Investment Profile Opportunistic
Deal Source Off Market

To-be-developed Class A, ±451,200 SF representing a single warehouse building in Raleigh, NC. 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 route eastward to I-95, ensuring efficient connectivity across the region. With its flexible, multi-tenant design, the building is designed to attract a broad spectrum of modern users including area manufacturing, distribution, transportation, and industrial service companies. Summit anticipates starting construction on Phase 2 in Q1 2026 and delivering the building Q2 2027.

Wendell Commerce Center, a multi-phase development project, is programmed to include eight buildings, totaling ±1,815,000 SF (upon complete buildout).

Building 2A

Address Arrow Road, Wendell, NC
County Wake
Lease Rate Call for details
TICAM Estimate $2.00
NC PIN 1774058949 (portion)
Zoning PUD-22-01
Number of Acres 11.85
Building Dimensions 480’ x 940’
Park Total SF ±1,815,000
Available SF ±451,200 (±5,000 spec office)
Exterior Wall Material Concrete tilt wall construction
Roofing Material 45 mil white TPO with R-15 poly-iso insulation 
Floor Thickness 7" un-reinforced over 4" GAB with 10 mil vapor-barrier throughout
Ceiling Height 40’ clear, dual slope roof, cross-dock
Sprinkler System/Type ESFR with K-25 wet-pipe sprinkler heads
Loading Dock 120 (9' x 10') manual dock-high doors, 4 (14' x 16') ramps with motorized roll-up doors
Paved Auto Parking 414 spaces
Trailer Parking 114 trailer parks
Truck Court Depth 185' (Typical)
Lighting LED fixtures 30FC average
HVAC Heat for freeze protection (to 50°F) Make-up air units for air circulation
Electrical Provider Duke Energy
Natural Gas Provider Dominion Energy
Water and Sewer Provider City of Raleigh
Sewer Line 8" stepping down to a 6” into building
Telecom Provider AT&T or Spectrum

For leasing information, contact the experts:

Alexis Lambeth

Partner, Foundry

919 987 2926

email

Jim Allaire

Principal, Foundry

919 270 9216‬

email

Maria Lombardi, MSRE

Senior Associate

919-899-5087

email

Photos

Site Plan

Location