A Maryland commercial real estate developer has begun its first venture in North Carolina.
Baltimore-based Merritt Properties, which has over 16 million square feet of space throughout Maryland and Virginia, announced it bought 51 acres of land in Durham, North Carolina, to build a business park, called Merritt TW Crossing.
Merritt plans to offer more than 282,400 square feet of light industrial space in four buildings, with delivery in the fourth quarter. The site is adjacent to Research Triangle Park
Robb Merritt, president of Merritt Properties, said in a news release that the Research Triangle region is a strategic growth market for the company, noting the region’s strong positive job growth, expanding population and educated workforce.
Construction will be managed by Merritt Construction Services, the construction division of Merritt Cos.