{"id":1004658863,"date":"2023-04-25T02:59:46","date_gmt":"2023-04-25T10:59:46","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004658863"},"modified":"2023-04-25T05:01:53","modified_gmt":"2023-04-25T13:01:53","slug":"ground-breaks-for-1-3-msf-research-triangle-business-park","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ground-breaks-for-1-3-msf-research-triangle-business-park\/","title":{"rendered":"Ground Breaks on 1.3 MSF Research Triangle Business Park"},"content":{"rendered":"<div id=\"attachment_1004658866\" style=\"width: 310px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004658866\" data-attachment-id=\"1004658866\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/ground-breaks-for-1-3-msf-research-triangle-business-park\/durham\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Durham.png\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Durham\" data-image-description=\"&lt;p&gt;A rendering of the completed Welcome Venture Park project in Durham, N.C. Image courtesy of Colliers&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;A rendering of the completed Welcome Venture Park project in Durham, N.C. Image courtesy of Colliers&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Durham.png?w=800\" class=\"size-medium wp-image-1004658866\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Durham.png?w=300\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Durham.png 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Durham.png?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Durham.png?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><p id=\"caption-attachment-1004658866\" class=\"wp-caption-text\">Welcome Venture Park. <em>Image courtesy of Colliers<\/em><\/p><\/div>\n<p><strong>Welcome Group<\/strong> has broken ground on Welcome Venture Park, a 1.3 million-square-foot industrial campus in Durham, N.C. <strong>RW2 Development Co.<\/strong> is handling entitlements, development and project management. Choate Construction, Withers Ravenel, Kimley-Horn, Maurer Architecture, Morningstar Law and S&amp;ME are also advising or assisting the developer in various capacities.<\/p>\n<p>The master-planned project was designed to host a wide array of businesses, including logistics, warehouse, laboratory, technology and life science users. The <strong>Colliers International Raleigh<\/strong> team of Larry Lakins, Hunter Willard and Andrew Young is spearheading the leasing efforts at the property.<\/p>\n<p>The business park\u2019s first phase, which is due to be online in 2024, includes four shallow-bay\/warehouse buildings totaling 392,000 square feet, with clear heights of 24 and 32 feet and ample parking. The property&#8217;s design also calls for outdoor green spaces and natural areas.<\/p>\n<p>Located in North Carolina\u2019s Research Triangle area, the 160-acre site is at 1225 Hamlin Road, near Oxford Road and the future North Durham Parkway, providing easy access to Highway 70 and Interstate 85. Raleigh-Durham International Airport is some 18 miles south.<\/p>\n<p>The property is 30 miles from another industrial project <a href=\"https:\/\/www.commercialsearch.com\/news\/beacon-partners-plans-1-2-msf-industrial-project-in-the-triangle\/\">taking shape in the Triangle<\/a> and also less than 14 miles from the Research Triangle Park, one of the world&#8217;s largest life science clusters. According to a recent <a href=\"https:\/\/cushwake.cld.bz\/2023-March-Life-Sciences-Update\/21\/\" target=\"_blank\" rel=\"noopener\">Cushman &amp; Wakefield report<\/a>, demand for life science space in the area remained strong throughout 2022, leading to 11.8 million square feet in construction projects that will add to the existing inventory of 12.8 million square feet.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Welcome Group&#8217;s project is taking shape near the future North Durham Parkway.<\/p>\n","protected":false},"author":3154,"featured_media":1004658866,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21748,21742,1604],"tags":[35498,36286,51990,46622],"class_list":["post-1004658863","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-industrial","category-latest","category-raleigh-durham","tag-colliers","tag-kimley-horn","tag-rw2-development-co","tag-welcome-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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