A new hub diverse enough to attract entrepreneurs, locally-owned enterprises, and “mom-and-pop” operations has just cut the ribbon in Wake Forest.
Merritt Properties, a flex/light industrial developer based originally out of Baltimore, Maryland, celebrated the opening of their newest home in Wake Forest, Capital Business Park, with an official ribbon-cutting ceremony on May 4. While the grand opening included the first two of seven buildings, long-term plans for the project include a total of seven buildings for flex and light industrial use, creating space and growth opportunities for local businesses.
The entire complex represents an investment of approximately $83 million, an addition of 550 newly-created jobs, and 452,000 square feet of workspace for businesses to operate. The next phase of the business park, which will involve the construction of buildings three and four, will commence in the next few months.
Impressed with the area’s population growth trends, local chamber and economic development resources, and the quality of the area's residential, commercial, and retail developments, Merritt Properties is thrilled to add Wake Forest to its portfolio. “We are excited about creating homes for businesses and the local, entrepreneurial nature of the companies taking space within Merritt Capital Business Park,” says Keith Wallace, Leasing and Business Development Executive of Merritt Properties, North Carolina Region. “The vast majority of the new tenants are local, ‘mom and pop’ businesses.”
Merritt Capital Business Park offers the often difficult-to-find, small to mid-sized light-industrial flex space now in high demand. In addition to creating an environment for hundreds of new jobs and a place for businesses to grow and prosper, the park is also providing meaningful support to the commercial tax base of the Town of Wake Forest. Leaseholders come from various backgrounds, holding true to Merritt’s business model. “These tenants represent a mix of industries and sizes, which is true to our long-standing customer base,” says Wallace. “Our goal is to provide solutions for businesses that have varying office and warehouse requirements. For instance, at Merritt Capital Business Park, we’re offering small-bay warehouses that are 1,500-3,000 square feet as well as larger spaces.” Wallace says the spaces can be customized, are offered in varying configurations, and provide rear-loaded docks and drive-in capabilities. Located between Ligon Mill Road and Unicon Drive Extension and easily accessed from highways US-1, US-401, and I-540, the business park also has ample, free, surface parking, and signage opportunities.
First to join the tenant roster was SixFour3, a premier girl's fastpitch softball center, which is an existing customer of Merritt’s within the Northern Virginia area for their other locations. However, Crownover Green Landscaping, a locally-owned family business, claims the prize as the first customer to move in. Other businesses to open doors at the business park include Southern Design & Cabinetry, Red Dog Crossfit, Seema Works Cabinetry, EcoView Windows & Doors, BV Homes Renovations, Happy Healing, Portalp, and The Wizard Detailing. There are already plans for several others.
Wallace says the Wake Forest Business and Industry Partnership has been a valuable resource in this endeavor. “From the very onset, when we were simply considering a purchase of this 74-acre land piece, the Wake Forest Business and Industry Partnership (WFBIP), particularly Jason Cannon, reached out to offer Merritt assistance. In addition to getting us introduced to the Town’s Mayor and Commissioners, WFBIP equipped us with the resources we needed to invest in Wake Forest. During every step, they have supported us and been a reliable partner. We look forward to deepening our relationship with the organization over years to come.”
Jason Cannon, President of WFBIP, states, “Merritt Properties’ commitment to creating new opportunities aligns perfectly with the Town’s and the Partnership’s strategic plans. I look forward to a long and fruitful partnership between a fine business and a tremendous community – both built upon extraordinary people.”
Merritt Properties arrived in North Carolina in 2020 with over 53 years of full-service commercial real estate experience. Today, they manage over 19 million square feet of space across North Carolina, Maryland, and Virginia. Their regional office is located in Durham at Merritt TW Crossing, and they have expanded their footprint to include three developments in the Triangle region.
