Youngsville Business Park to break ground this spring with first building expected to deliver by year-end

WAKE FOREST, NC – St. John Properties, Inc. has acquired a nearly 25-acre site north of Raleigh for the speculative development of a three-building business community totaling approximately 120,000 square feet of flex/R&D space. Branded Youngsville Business Park, the project represents the company’s second business community in the Research Triangle, following the recent development and successful leasing momentum at Wake Forest Exchange, a 30-acre mixed-use development currently underway in Wake Forest. The Baltimore-based commercial real estate development and management company, which entered North Carolina in 2022, holds a national portfolio of more than 25 million square feet valued at over $5.5 billion across 13 states.

St. John Properties Regional Partner Dustin Atkielski, who oversees all operations and development activities for the company in the greater Raleigh market, represented St. John Properties in this land acquisition. 

“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,” Atkielski stated. “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.”    

Development schedule for Youngsville Business Park

Youngsville Business Park is situated along Park Avenue (US Alt 1) near NC Route 96 and is located approximately five miles from Franklinton and Wake Forest, 23 miles from Raleigh, and 30 miles from Raleigh-Durham International Airport. At full build-out, the project is expected to support more than 350 jobs across a diverse mix of businesses operating within the park. St. John Properties intends to speculatively develop three of their signature flex/R&D buildings ranging from 34,000 square feet to 44,000 square feet. Groundbreaking for the first two buildings, totaling nearly 85,000 square feet, will begin this spring with delivery scheduled by year-end.

The company’s signature flex/R&D buildings are single-story “part office/part warehouse” buildings separated into suites which can be built to suit based on each tenant’s requirements. The prototype building is a brick building with 18-foot clear heights, rear dock and drive-in loading doors, elevated landscaping, and ample parking to support office, retail or light industrial users. The product serves a broad array of businesses including professional service companies, traditional office uses, government contractors, retailers, daycares/schools, light manufacturing and warehouse/logistics users, among others.

Nearly 7,000 vehicles pass the Youngsville Business Park site daily via US Alt 1, and the project is adjacent to a variety of sit-down, fast-casual, and quick-serve restaurants, as well as other retailers and service-oriented amenities. More than 165,000 people reside within a 10-mile radius of Youngsville Business Park, with an average household income of over $150,000.

First two buildings at Wake Forest Exchange nearing completion

St. John Properties is nearing completion on the first flex/R&D and retail buildings at Wake Forest Exchange, and the company recently announced the completion of two leases accounting for more than 20,000 square feet of space. Full development plans call for the speculative development of six buildings, including three flex/R&D buildings, one single-story medical office building, and two inline retail buildings. Construction will be phased based on leasing pace.

 “We have been extremely encouraged by the leasing momentum at Wake Forest Exchange, which has given us the confidence to move forward with Youngsville Business Park and pursue additional sites,” Atkielski added. “The strong reception from elected officials, economic development teams, industry leaders, and the broader business community reinforces our commitment to pursuing future acquisitions and developments—we intend to be a long-term holder and active member of the Research Triangle community.”

Founded in 1971, St. John Properties, Inc. is one of the nation’s largest and most successful privately held commercial real estate firms. The company is distinguished by its commitment to customer service, achievements in green building, and top-rated workplace culture. Throughout St. John Properties’ 55-year history, the company has developed more than 25 million square feet of flex/R&D, office, retail, and warehouse space and has investments in over 3,000 residential units. The company proudly serves more than 2,700 clients in Colorado, Delaware, Florida, Louisiana, Maryland, Nevada, North Carolina, Pennsylvania, Tennessee, Texas, Virginia, Utah, and Wisconsin. For more information about the company, visit www.sjpi.com.