{"id":1004705236,"date":"2024-03-06T08:18:23","date_gmt":"2024-03-06T16:18:23","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004705236"},"modified":"2024-03-07T06:04:24","modified_gmt":"2024-03-07T14:04:24","slug":"barrister-commercial-breaks-ground-on-2-4-msf-raleigh-area-campus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/barrister-commercial-breaks-ground-on-2-4-msf-raleigh-area-campus\/","title":{"rendered":"Barrister Commercial Breaks Ground on 2.4 MSF Raleigh-Area Campus"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a3799e9d1a13&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-medium is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004705241\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/barrister-commercial-breaks-ground-on-2-4-msf-raleigh-area-campus\/eaea2a04-dc83-42ff-ae66-c61389de52c1\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/03\/eaea2a04-dc83-42ff-ae66-c61389de52c1-e1709728761613.png\" data-orig-size=\"460,345\" 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=\"eaea2a04-dc83-42ff-ae66-c61389de52c1\" data-image-description=\"&lt;p&gt;Rendering of Research Triangle Logistics Park &lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Rendering of Research Triangle Logistics Park.. Image courtesy of Avison Young&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/03\/eaea2a04-dc83-42ff-ae66-c61389de52c1-e1709728761613.png?w=460\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" height=\"225\" width=\"300\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/03\/eaea2a04-dc83-42ff-ae66-c61389de52c1-e1709728761613.png?w=300\" alt=\"Rendering of Research Triangle Logistics Park\" class=\"wp-image-1004705241\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/03\/eaea2a04-dc83-42ff-ae66-c61389de52c1-e1709728761613.png 460w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/03\/eaea2a04-dc83-42ff-ae66-c61389de52c1-e1709728761613.png?resize=300,225 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Research Triangle Logistics Park will be within a 200-mile radius of three major shipping ports.<em> Image courtesy of Avison Young<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Barrister Commercial Group, in partnership with Terra Equity I LLC, has started construction on Research Triangle Logistics Park, a 162-acre Class A industrial project in Hillsborough, N.C. Upon completion, the campus will comprise five buildings totaling up to 2.4 million square feet.<\/p>\n\n\n\n<p>Avison Young\u2019s Vice President Bill Aucoin and Principal Jack Graham will provide leasing and consulting services on behalf of the owner. <\/p>\n\n\n\n<p>The first phase of development will encompass more than 1.4 million square feet across three buildings. <\/p>\n\n\n\n<p>The developer purchased the land from different sellers, paying a total of $7.4 million, according to the Orange County public records. The same source also reveals that Stock Yards Bank &amp; Trust provided $3.5 million in construction financing.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/what-drives-manufacturings-revival\/\">What&#8217;s Driving the Manufacturing Revival?<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>The first two buildings currently underway at Research Triangle Logistics Park will measure 275,000 and 163,000 square feet, with delivery scheduled for the third quarter of 2025. Planned features include 60-foot speed bays, ESFR sprinkler systems, 36- to 40-foot clear heights, 400 potential dock doors positions, 237 trailer parking spots and 1,000 vehicle parking spots, with expansion capabilities.<\/p>\n\n\n\n<p>Phase one will also include a pad-ready site for an additional 915,000-square-foot building. Research Triangle Logistics Park\u2019s second phase is set to include two more buildings totaling 845,000 square feet.<\/p>\n\n\n\n<p>The development is at the Southwest corner of Interstate 40 and Highway Old N.C. 86, within the core of the Raleigh-Durham market and at the western edge of the Triangle market. The campus will rise 26 miles from Raleigh-Durham International Airport and within 56 miles of Piedmont Triad International Airport. Additional nearby transport hubs include Charlotte-Douglas International Airport, Port of Wilmington, Port of Charleston and Port of Savannah.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-slew-of-projects-coming-to-the-research-triangle\">Slew of projects coming to the Research Triangle<\/h2>\n\n\n\n<p>The Raleigh-Durham industrial market saw a decline in construction starts in 2023, while nearly 4 million square feet of industrial space was added to its inventory, a recent <a href=\"https:\/\/www.avisonyoung.us\/web\/raleigh-durham\/industrial-market-report?_ga=2.243076934.530172604.1709717916-852958437.1662447581\" target=\"_blank\" rel=\"noreferrer noopener\">Avison Young report<\/a> shows. In addition, deliveries have been consistently rising since 2021, with the market&#8217;s vacancy rate reaching a low 4.3 percent in last year&#8217; fourth quarter.<\/p>\n\n\n\n<p>Recent industrial development in the market includes <a href=\"https:\/\/www.commercialsearch.com\/news\/4b-north-carolina-ev-facility-breaks-ground\/\">VinFast&#8217;s electric vehicle manufacturing facility <\/a>in Chatham County, N.C. The $4 billion project represents the largest economic initiative in the state&#8217;s history. The 2.8 million-square-foot EV plant is slated to come online next year.<\/p>\n\n\n\n<p>Last April, Welcome Ground started construction on a 1.3 million-square-foot industrial campus in Durham, N.C. <a href=\"https:\/\/www.commercialsearch.com\/news\/ground-breaks-for-1-3-msf-research-triangle-business-park\/\">Welcome Venture Park <\/a>was designed to host a wide variety of businesses, including warehouse, logistics, life science and technology users.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The first two buildings are slated to come online next year.<\/p>\n","protected":false},"author":2991,"featured_media":1004705241,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21748,21742,1604,32781],"tags":[33022,52353],"class_list":["post-1004705236","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-industrial","category-latest","category-raleigh-durham","category-southeast","tag-avison-young","tag-barrister-commercial-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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