Commercial real estate professionals gathered January 27 in Durham, North Carolina to celebrate a record-breaking year in commercial real estate sales during the Triangle Business Journal’s (TBJ) 2017 SPACE Awards. TBJ had received more than 100 nominations for the 20 award categories – ranging from office, apartments, redevelopment to entertainment, and Scannell Properties earned two top awards for their part in growing and expanding the economy in all parts of the Triangle as the Raleigh-Durham region continues to experience widespread economic expansion. Since Scannell Property’s purchase of 84 acres in Triangle Business Center in 2015, the company has completed construction of one build-to-suit warehouse for apparel brand Peter Millar and commenced construction on two more, including a 258,000-square-foot building for PowerSecure.
All total, the TBC Industrial park is slated to have more than 529,000 square feet of warehouse space added to the market once complete, a total value of close to $50 million. The construction team included architecture firm DCI Architect and general contractor Edwards. Leasing services are led by Foundry Commercial.
Scannell’s two top industrial properties recognized at the SPACE awards are:
1) Winner: Top Flex/Warehouse Development - Durham’s Triangle Business Center
2) First Place: Top Warehouse Lease - PowerSecure
Energy technology firm PowerSecure has committed to a multiyear industrial lease deal worth $28.2 million for a new 258,060-square-foot, build-to-suit structure at TBC Industrial in Durham. Jim Allaire, Managing Director of Foundry Commercial who represented Scannell Properties says, “In less than a year Scannell has earned the reputation for developing the highest quality industrial buildings and for their creative deal making in the Raleigh-Durham market.”