Wigeon Capital Breaks Ground on Raleigh-Area Project

3300 Waterfield Drive. Image courtesy of Tri Properties and Wigeon Capital

Wigeon Capital has broken ground on the first phase of its 410,000-square-foot industrial project in Garner, N.C.

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The developer has started construction on 3300 Waterfield Drive, a flex warehouse building within Greenfield Business Park. The 58,000-square-foot facility will be built with 22-foot clear ceiling heights, 13-foot dock-high loading doors, 110 parking spaces, two entry access points and a 130-foot truck court. The first property is expected to be complete in late summer 2021, Jimmy Barnes, executive vice president of Tri Properties | NAI Carolantic Realty who’s tasked with leasing the property, told Commercial Property Executive.

The industrial property will be located near the intersection of U.S. Highway 70 and Interstate 40, near the distribution hubs for Papa John’s and Domino’s, and 7 miles south of downtown Raleigh, N.C. Barnes said in prepared remarks that 3300 Waterfield Drive was meant to accommodate the high demand for flex space in the Triangle region of North Carolina.

Elsewhere in Greenfield Business Park, Duke Realty Corp. delivered a 165,921-square-foot speculative warehouse in 2020, representing the eighth building in its industrial campus.

Wigeon to start later phases this year

Once 3300 Waterfield Drive is complete, Wigeon expects to break ground on the second phase of its industrial project in the summer, Barnes told CPE. The developer plans to start construction on Laurensfield Court, a 96,000-square-foot warehouse building located on a 13-acre site next to 3300 Waterfield Drive. The second property will be built with 32-foot clear heights, 15-foot dock-high loading doors, 177 parking spaces and a 135-foot truck loading court. Barnes also told CPE that Wigeon plans to complete Laurensfield Court in the first quarter of 2022.

The third phase of the project is expected to break ground by the end of 2021, Barnes told CPE. The final phase, Greenfield 27, will include three buildings on a 27-acre site adjacent to the other two buildings. The three buildings will include a 150,000-square-foot bulk distribution facility and two additional smaller flex buildings that are 58,000 and 48,000 square feet, respectively.

Besides its three-phase industrial project in Garner, Wigeon is also working on two other flex building projects at Brier Creek and Sigma Drive in Raleigh.