MERRITT TW CROSSING REACHES FULL OCCUPANCY IN DURHAM, NC | New

Durham, North Carolina, July 18, 2022 (GLOBE NEWSWIRE) — Merritt Properties announced today that it has reached 100 percent occupancy at Merritt TW Crossing, the commercial real estate developer’s first project in North Carolina. Peak Supply Chain Solutions, a Kentucky-based logistics provider specializing in shipping and air freight transportation, signed the final lease for 12,172 square feet of office and warehouse space.

“We are thrilled with the resounding success of this business park and the team we have built here in North Carolina,” said Keith Wallace of the Merritt North Carolina office. “The real estate brokerage community has been great, especially CBRE-Raleigh with their listing assistance, and Durham’s vibrant business climate has allowed our business and our clients to thrive. We are proud to say that 24 businesses now call Merritt TW Crossing home.

Located in Durham, NC, adjacent to Research Triangle Park, Merritt TW Crossing consists of four flexible/lightweight industrial buildings totaling 284,240 square feet. The park is located on 51 acres of land purchased by the Maryland-based developer in January 2020. Construction began in May 2020, with a lease completed in just 26 months.

Peak joins 23 other companies in the park, representing a cross section of industries that have driven increased demand for flexible and light industrial spaces in the marketplace. One such company, Carolina Components Group, quickly expanded its physical footprint to meet the growing demands of its biotech, pharmaceutical, cellular and genetics customers.

“We chose TW Crossing because of the new availability of 57,000 square feet and proximity to our manufacturing facility,” said John Cooling, president of Carolina Components Group. “Merritt is clearly committed to continually developing flexible spaces for small and medium businesses in the RTP market and they are easy to work with. We are delighted with this partnership and look forward to full occupancy after fit-up in January 2023.”

Merritt portfolio in North Carolina has grown rapidly since 2020 with a total of seven flexible/lightweight industrial developments underway:

  • Merritt Capital Business Park, up to seven buildings totaling 452,500 square feet in Wake Forest.
  • Merritt Midway Business Park, up to five buildings totaling 271,450 square feet in Knightdale.
  • 7771 Alexander Town Boulevard, a single 35,200 square foot building six miles from RDU.
  • North Chapel Business Center, two buildings totaling 116,300 square feet.
  • Merritt RDU Business Park, up to 13 buildings totaling 738,750 square feet three miles from RDU.
  • 42 Crossing, three buildings totaling 212,400 square feet in Garner.

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About Merritt Properties

Founded in 1967, Merritt Properties is a private commercial real estate company with over 17 million square feet of Class A, flex, warehouse, industrial, retail and custom office space throughout Maryland, North Carolina and Virginia. Capabilities include leasing, property development and management, and financing. Merritt Properties is committed to “Creating Homes for Business” and providing the highest quality service to its customers. For more information, visit www.merrittproperties.com.

Attachments

Missy Teague Merritt Properties 4105947435 mteague@merritt-companies.com

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