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Summit Identifies Industrial Site in Raleigh, NC

Summit Real Estate Group is pleased to announce that it has closed on an 189-acre industrial site east of Raleigh in Wake County, NC. Acquired on behalf of Summit’s Arrowrock US Industrial Fund IV, the multi-phase development project will be known as Wendell Commerce Center (“Wendell”) and include eight buildings representing approximately 1,800,000 square feet (upon complete buildout).

Wendell represents Summit’s second multi-phase development project in Raleigh, following US 1 North Commerce Center in Franklin County. When it was delivered in June 2024, Phase 1 (two buildings) was 89% pre-leased.

Raleigh is a high-growth Southeast U.S. market that benefits from numerous economic drivers, including population and job growth rates that exceed national averages. Located on the eastern side of Raleigh’s Wake County, Wendell Commerce Center is poised to become a pivotal industrial hub in the County’s thriving commercial landscape. Raleigh’s strong economic growth is driving increases in residential and corporate populations, and the demand for industrial real estate has intensified, posing challenges for local businesses seeking modern space. The strategically positioned industrial park, located 0.5 miles from the entrance ramp to I-87 and Highway 64 (Wendell Blvd), offers direct access to Raleigh and Interstate 540 to the west. Highway 264 provides a direct route eastward to I-95, facilitating efficient regional connectivity. Positioned to meet the needs of businesses seeking accessible locations, Wendell Commerce Center is set to enhance economic vitality and growth in Wake County and beyond.

With its flexible design, Wendell seeks to attract area manufacturing, distribution, and industrial services companies. At approximately 494,000 square feet, Phase 1 will include three multi-tenant, rear-load buildings with 32’ clear heights, and each building will feature 185’ truck courts with space available for trailer parking. Summit anticipates starting construction on Phase 1 in Q1 2025 and delivering the three buildings in Q4 2025.