— Franklin County Press Release —
A new industrial development has been announced in the southwestern side of Franklin County.
Summit Real Estate Group – a private commercial real estate company – intends to build a five-building business park near 2380 Long Mill Road in Youngsville. The multi-phase project, known as U.S.-1 North Commerce Center, brings the potential for more than $160 million in investment to the county and more than 400 jobs.
“We are excited to have a project in Franklin County located off US-1,” said Mark Billeaud, founding partner and head of investments at Summit. “We are committed to Franklin County, as they have been an exceptionally skilled and resourceful team with whom to partner on this project.”
The U.S.-1 North Commerce Center is located near the county’s existing industrial user base in Youngsville and within 30 minutes of the Raleigh-Durham International Airport. Summit intends to develop a Class A business park that can accommodate a wide variety of manufacturing and distribution companies that could include light assembly, research and development, office/warehouse, and e-commerce.
“We are very excited to be a part of the first-Class A industrial development in Youngsville, NC,” said Jackson Rives, principal of industrial services at Foundry Commercial. “These traits, along with the support of a strong EDC in Franklin County, give this park the opportunity to service existing companies in the market and bring new tenants to a great county.”
The site is extremely efficient and allows for versatile designs that will be a great place for manufacturers and distributers to grow and serve the region.
“The kind of industrial development that Summit is committed to bringing to Franklin County is vital to the economic success of the region,” said Representative Matthew Winslow.
The industrial buildings are estimated to range from 170,000 to 505,000 square feet and the project is expected to progress over a seven-year period.
“We are very happy to have Summit working with Franklin County on developing an industrial complex that will bring jobs and investment to Franklin County,” said Franklin County Manager Kim Denton.
Summit Real Estate Group has decades of experience in acquiring, developing, and managing institutional-grade real estate throughout the United States in several economic cycles. Summit is currently focused on industrial real estate development in select markets in the Southeastern U.S. including Florida, Georgia, North and South Carolina. Modern, well-located industrial real estate has become increasingly important for U.S. companies seeking competitive advantages and growth within the goods-producing and distribution industries. For more information on Summit, visit their website https://summitstl.com/.