LARGE INDUSTRIAL PARK COMING TO SANFORD
Yes, Sanford North Carolina is part of the Greater Triangle. And as such, the Greater Triangle area is gaining a new industrial park. Industrial developer, Matt Stephens of Stephens Enterprises actively develops in the tertiary markets of the Triangle. Working currently on an assemblage of approximately 380 acres in Johnston County sitting on US Highway 70. A perfect location for industrial development…although that has not yet been determined. He is very excited about that project according to the Triangle Business Journal. In addition he is currently working on a development of 138 acres … East Coast Logistics Park in Dunn, NC.
Project Developers of the Sanford project have indicated that the land will indeed be used as an industrial park. Think of the Central Carolina Enterprise Park north of Sanford. Sanford City Council voted to approve rezoning this 612 acre site from residential agriculture to light industrial recently.
Because the park sits along the CSX rail line and very close to the Raleigh Executive Airport too! Right? I thought the same thing you are thinking…how has this site been overlooked for so long? You know, like I know that companies love being near multiple modes of transportation. Reminds me of the movie, Planes, Trains and Automobiles. This site offers all three.
So many cottage industries are popping up around the Triangle and needing these industrial locations. The need is great and proves the model of Merritt Properties and the like. They are building multi-use industrial around the Triangle for everyone. With the U.S. electric car vehicle factory just up the road it stands to reason that this park will house some of the businesses needed to support them!
The project came with some opposition as one would imagine. Some residents loving nearby certainly shared their concerns about living near an industrial park. Some of their concerns were related to not knowing exactly who would be filling the park. Others were in favor including the Sanford Area Growth Alliance (SAGA).
It is going to take some time for this project to be fully developed. Make no mistake about it however, the growth in the Sanford is happening very fast. Property values and the excitement of property owners benefiting from those increased property values is palpable. The need for industrial space in the Greater Triangle area is so needed. Vacancy rates remain very low.
Did You Know?
There is a part of Raleigh known as the Tweener District? Stay tuned for more information on this coming soon.
The circular Holiday Inn building standing since the 1960s is awaiting demolition. Likely the same fate awaits the original Char-Grill just up the road a piece (always wanted to say that phrase).
Bloc83 is asking over $41 a foot and is a beautiful and wonderful addition to Raleigh! And more just like are coming.
Dodd-Hinsdale house. A contrarian of sorts…it still remains the same. A 143 year old home showing a past that Raleigh is proud of.
Turnbridge Equities out of New York City is looking to bring a new hotel to town… Moxy. Not to be confused with the wonderful drink from Maine…. Moxie. By the way, it was featured this morning on CBS News Sunday Morning. Love that show.
North Carolina legislators are pushing to get legalized sports gambling approved in the state of North Carolina. What would that do for us? How would that impact commercial real estate you ask? Well, could it mean a potential casino with sports betting possibly? How cool would that be for those that support legalized gambling?
If you are looking for more information on commercial real estate or even need the assistance of a commercial real estate team, please reach out to us. We would be honored here at Kima Commercial, LLC to help you and just be a resource. What is it that we can do to earn your business? Our team stands ready to help when you need us.