Scannell Properties Awarded Top Flex-Warehouse Development at Annual SPACE Awards
Eastgate 540 in Raleigh’s Northeast Wake County Submarket Takes Honor
(February 5, 2018) —-Scannell Properties has been very active in developing amidst the booming industrial market in Raleigh, North Carolina, and one of their most recent endeavors, Eastgate 540 – an industrial park – was given top honors in the Flex/Warehouse category at the annual SPACE Awards on February 1.
Sponsored by The Triangle Business Journal, the Space Awards program honors the most accomplished and prominent commercial real estate projects and those who have attained significant achievement in the industry.
Eastgate 540 is located in a new Premiere Class A industrial park in Knightdale, NC, and will eventually comprise almost 1 million square feet of Class A space when its six buildings are complete. The first of six buildings – a 150,000 SF flex/warehouse is complete and ready to lease. Additionally, a second single loaded 150,000 SF facility is planned for delivery by the end of 2018 in Eastgate 540.
As the Triangle area continues to make headlines in national newspapers and gain recognition across the country, Scannell is well positioned to continue its success in the market. Scannell’s other local projects in the Raleigh/Durham market include TBC-2, a 208,000 SF warehouse at Triangle Business Center, and two buildings at Innovation at Imperial Center, an R & D flex facility and an office pad in Durham.
Recently, Scannell sold the 258,000 SF PowerSecure Industrial Campus in Durham, to Iowa-based Principal Real Estate Investors for $27.2 million.
“Scannell has earned the reputation for developing the highest quality industrial buildings and for our creative deal making in the Raleigh-Durham market,” says Joel Scannell, Managing Director. “This market’s strength looks solid for the year ahead and we’re appreciative to be recognized by Triangle Business Journal’s SPACE Awards for our accomplishments in this market.”