Baltimore real estate firm to develop NC business park

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St. John Properties Inc., a Baltimore-area commercial real estate agency, acquired a nearly 25-acre site in the Raleigh, North Carolina, area for the planned development of a three-building business community, the company announced Thursday.

Encompassing roughly 120,000 square feet of flex/research and development space, the planned Youngsville Business Park is set to break ground this spring with the first building slated for completion by the end of the year, according to St. John Properties. 

According to a release, this project marks St. John’s second business community in North Carolina’s Research Triangle – following the start of a recent development of Wake Forest Exchange. 

“The extremely favorable business climate, continued influx of new companies and residents entering the region, and high-quality of life are primary reasons why St. John Properties remains bullish about the long-term commercial real estate opportunities in the Research Triangle,” St. John Properties regional partner Dustin Atkielski said. 

“Youngsville Business Park is a well-positioned opportunity to deliver our signature flex/R&D product to Franklin County as part of our strategy to develop best-in-class business communities throughout the region. Upon completion, Youngsville Business Park will accommodate a diverse range of businesses, support hundreds of jobs, and contribute significantly to the local tax base.”

Located 23 miles from North Carolina’s capital, Youngsville Business Park is situated along Park Avenue near NC Route 96. 

At full build-out, the project aims to support more than 350 jobs across various businesses operating within the park, a St. John Properties release says. The business community is adjacent to several restaurants, other retailers and service-oriented amenities.