{"id":1004732895,"date":"2024-10-14T04:35:09","date_gmt":"2024-10-14T12:35:09","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004732895"},"modified":"2024-10-14T04:35:11","modified_gmt":"2024-10-14T12:35:11","slug":"welcome-group-wraps-1st-phase-of-durham-industrial-park","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/welcome-group-wraps-1st-phase-of-durham-industrial-park\/","title":{"rendered":"Welcome Group Wraps 1st Phase of Durham Industrial Park"},"content":{"rendered":"\n<p>Welcome Group LLC, of Houston, has opened the first phase of its Welcome Venture Park industrial project in Durham, N.C.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Welcome-Venture-Park-featured.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"789\" height=\"600\" data-attachment-id=\"1004732908\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/welcome-group-wraps-1st-phase-of-durham-industrial-park\/welcome-venture-park-featured\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Welcome-Venture-Park-featured.jpg\" data-orig-size=\"789,600\" 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=\"Welcome Venture Park featured\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Phase 1 of Welcome Venture Park consists of nearly 400,000 square feet across four buildings. Image courtesy of Welcome Group&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Welcome-Venture-Park-featured.jpg?w=789\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Welcome-Venture-Park-featured.jpg\" alt=\"Phase 1 of Welcome Venture Park consists of nearly 400,000 square feet across four buildings\" class=\"wp-image-1004732908\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Welcome-Venture-Park-featured.jpg 789w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Welcome-Venture-Park-featured.jpg?resize=300,228 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Welcome-Venture-Park-featured.jpg?resize=768,584 768w\" sizes=\"auto, (max-width: 789px) 100vw, 789px\" \/><\/a><figcaption class=\"wp-element-caption\">Phase 1 of Welcome Venture Park consists of nearly 400,000 square feet across four buildings. <em>Image courtesy of Welcome Group<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Master-planned for an eventual total of about 1.3 million square feet, the park seeks to attract industrial, flex, logistics, GMP and life science tenants. It\u2019s being developed on 160 acres on Old Hamlin Road near Oxford Road and the future North Durham Parkway, providing easy access to Highway 70 and I-85.<\/p>\n\n\n\n<p>Phase 1 consists of four shallow-bay and warehouse buildings whose construction financing was provided by U.S. Bank.<\/p>\n\n\n\n<p>Of the planned nine to 10 buildings, those in Phase 1 (Buildings D through G) are in the park\u2019s southeastern portion and total about 394,800 square feet. They range widely in size, with spaces as small as 4,800 square feet available.<\/p>\n\n\n\n<p>Building D is 103,200 square feet and Building E is 74,400 square feet; both have 40- by 40-foot bays and a 24-foot clear height. Building F is 192,000 square feet, with 50- by 60-foot bays and a 32-foot clear height. Building G is 25,200 square feet, with 30- by 40-foot bays and a 24-foot clear height.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/lower-rates-signal-increase-in-industrial-sales\/\">Lower Rates Signal Increase in Industrial Sales<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Welcome Group\u2019s collaborators in the project include RW2 Development Co., of Greensboro, N.C., which is handling entitlements, development and project management. Other local consultants involved in the project are Choate Construction, civil and environmental engineers Withers Ravenel, Maurer Architecture and general contractor Sullivan Eastern.<\/p>\n\n\n\n<p>The campus will eventually feature extensive paved and mulched paths among its amenities. Colliers International is handling leasing.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-raleigh-durham-s-strong-industrial-demand\">Raleigh-Durham&#8217;s strong industrial demand<\/h2>\n\n\n\n<p>After a slow start to the year, activity in the Raleigh-Durham industrial market picked up substantially, as positive net absorption hit its 10th straight quarter, according to a second-quarter report from Colliers.<\/p>\n\n\n\n<p>About two-thirds of the 758,000 square feet delivered in the second quarter was preleased, helping to pull the overall vacancy down to 4.6 percent. And even though the development pipeline has risen to 3.2 million square feet, most of it speculative, Colliers expects ongoing strong demand to tighten vacancy further.<\/p>\n\n\n\n<p>One of those preleased buildings was <a href=\"https:\/\/www.commercialsearch.com\/news\/scannell-completes-1st-building-at-durham-industrial-park\/\">Scannell Properties\u2019 first building<\/a> in its master-planned Durham 85 Industrial Park. On completion, the 249,000-square-foot asset was fully leased to Life Science Logistics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Plans call for a total of 1.3 million square feet across 10 buildings.<\/p>\n","protected":false},"author":882,"featured_media":1004732908,"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":[35498,46622],"class_list":["post-1004732895","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-industrial","category-latest","category-raleigh-durham","category-southeast","tag-colliers","tag-welcome-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Welcome Group Wraps 1st Phase of Durham Industrial Park - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Welcome Group LLC has opened the first phase of its Welcome Venture Park industrial project in Durham, N.C.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/welcome-group-wraps-1st-phase-of-durham-industrial-park\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Welcome Group Wraps 1st Phase of Durham Industrial Park\" \/>\n<meta property=\"og:description\" content=\"Welcome Group LLC has opened the first phase of its Welcome Venture Park industrial project in Durham, N.C.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/welcome-group-wraps-1st-phase-of-durham-industrial-park\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-14T12:35:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-14T12:35:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Welcome-Venture-Park-featured.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"789\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/welcome-group-wraps-1st-phase-of-durham-industrial-park\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/welcome-group-wraps-1st-phase-of-durham-industrial-park\/\",\"name\":\"Welcome Group Wraps 1st Phase of Durham Industrial Park - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/welcome-group-wraps-1st-phase-of-durham-industrial-park\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/welcome-group-wraps-1st-phase-of-durham-industrial-park\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Welcome-Venture-Park-featured.jpg\",\"datePublished\":\"2024-10-14T12:35:09+00:00\",\"dateModified\":\"2024-10-14T12:35:11+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"description\":\"Welcome Group LLC has opened the first phase of its Welcome Venture Park industrial project in Durham, N.C.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/welcome-group-wraps-1st-phase-of-durham-industrial-park\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/welcome-group-wraps-1st-phase-of-durham-industrial-park\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/welcome-group-wraps-1st-phase-of-durham-industrial-park\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Welcome-Venture-Park-featured.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Welcome-Venture-Park-featured.jpg\",\"width\":789,\"height\":600,\"caption\":\"Phase 1 of Welcome Venture Park consists of nearly 400,000 square feet across four buildings. Image courtesy of Welcome Group\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/welcome-group-wraps-1st-phase-of-durham-industrial-park\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Welcome Group Wraps 1st Phase of Durham Industrial Park\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\",\"name\":\"Scott Baltic\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96\",\"caption\":\"Scott Baltic\"},\"description\":\"Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. He earned a master\u2019s in journalism from Northwestern University\u2019s Medill School of Journalism and has a bachelor\u2019s from North Park University.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/scott-baltic\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Welcome Group Wraps 1st Phase of Durham Industrial Park - Commercial Property Executive","description":"Welcome Group LLC has opened the first phase of its Welcome Venture Park industrial project in Durham, N.C.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/welcome-group-wraps-1st-phase-of-durham-industrial-park\/","og_locale":"en_US","og_type":"article","og_title":"Welcome Group Wraps 1st Phase of Durham Industrial Park","og_description":"Welcome Group LLC has opened the first phase of its Welcome Venture Park industrial project in Durham, N.C.","og_url":"https:\/\/www.commercialsearch.com\/news\/welcome-group-wraps-1st-phase-of-durham-industrial-park\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2024-10-14T12:35:09+00:00","article_modified_time":"2024-10-14T12:35:11+00:00","og_image":[{"width":789,"height":600,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Welcome-Venture-Park-featured.jpg","type":"image\/jpeg"}],"author":"Scott Baltic","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/welcome-group-wraps-1st-phase-of-durham-industrial-park\/","url":"https:\/\/www.commercialsearch.com\/news\/welcome-group-wraps-1st-phase-of-durham-industrial-park\/","name":"Welcome Group Wraps 1st Phase of Durham Industrial Park - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/welcome-group-wraps-1st-phase-of-durham-industrial-park\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/welcome-group-wraps-1st-phase-of-durham-industrial-park\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Welcome-Venture-Park-featured.jpg","datePublished":"2024-10-14T12:35:09+00:00","dateModified":"2024-10-14T12:35:11+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555"},"description":"Welcome Group LLC has opened the first phase of its Welcome Venture Park industrial project in Durham, N.C.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/welcome-group-wraps-1st-phase-of-durham-industrial-park\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/welcome-group-wraps-1st-phase-of-durham-industrial-park\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/welcome-group-wraps-1st-phase-of-durham-industrial-park\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Welcome-Venture-Park-featured.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Welcome-Venture-Park-featured.jpg","width":789,"height":600,"caption":"Phase 1 of Welcome Venture Park consists of nearly 400,000 square feet across four buildings. Image courtesy of Welcome Group"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/welcome-group-wraps-1st-phase-of-durham-industrial-park\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Welcome Group Wraps 1st Phase of Durham Industrial Park"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555","name":"Scott Baltic","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","caption":"Scott Baltic"},"description":"Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. He earned a master\u2019s in journalism from Northwestern University\u2019s Medill School of Journalism and has a bachelor\u2019s from North Park University.","url":"https:\/\/www.commercialsearch.com\/news\/author\/scott-baltic\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Welcome-Venture-Park-featured.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004732895","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/882"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004732895"}],"version-history":[{"count":2,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004732895\/revisions"}],"predecessor-version":[{"id":1004732910,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004732895\/revisions\/1004732910"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004732908"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004732895"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004732895"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004732895"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}