Hinton Oaks Industrial Park in Knightdale Reaches 100 Percent Occupancy
Posted on January 13, 2020
Raleigh, N.C. (January 13, 2020) – Hinton Oaks Industrial Park has now reached 100 percent occupancy following the recent full-building, 120,000-square-foot lease to Transpacific Suppliers Alliance, Inc. Wake Stone Corporation, the owner and developer of Hinton Oaks Industrial Park, began master-planning the Class A Industrial Park in 2013. The 48-acre industrial park, which is comprised of five buildings and a total of 524,000 square feet, is adjacent to Wake Stone’s current quarry operation and headquarters in Knightdale.
After pre-leasing a 24,000-square-foot building to AG&M in 2015, Wake Stone started speculative construction and delivered the first of four 120,000-square-foot buildings in 2016. The company is slated to deliver the final building within Hinton Oaks Industrial Park in April 2020, and that building is already completely pre-leased. Hinton Oaks currently has 10 tenants; three of those have already expanded their operations at the park.
Brian Donnelley with KW Commercial represented the tenant, Transpacific Suppliers Alliance, Inc. in the most recent lease transaction. Williams Realty & Building Company is the General Contractor for the project and Foundry Commercial, led by Alexis Lambeth, leases the park on behalf of Wake Stone Corporation.
“Given the growth of the region, we felt confident in the long-term viability of Hinton Oaks as an industrial park,” stated Colin Perry, Business Development Manager for Wake Stone Corporation. “While there was a short-term risk in establishing a new park outside the central core of the market, we have obviously been thrilled at the rate in which Hinton Oaks has taken off and feel fortunate to be at full occupancy at this stage. It helps to be in a strong market, but we’ve had a great team on the project and are appreciative of all their hard work that led to the success at Hinton Oaks.”
Located in the rapidly growing East Wake industrial submarket directly off I-540, Hinton Oaks’ state-of-the-art infrastructure has helped the project garner a reputation as one of the preeminent Class-A industrial parks in the region. The Raleigh-Durham industrial market continues to be one of the tightest warehouse markets in the country with total warehouse vacancy dipping to 1.3 percent in the third quarter of 2019, according to Foundry Commercial.
“Hinton Oaks’ building design, best-in-class infrastructure, and direct access to I-540 – coupled with the current leasing velocity in the RDU industrial market – have been the key ingredients propelling the park’s tremendous success,” stated Alexis Lambeth, Senior Vice President with Foundry Commercial. “This has been a very exciting and rewarding project to work on over the last five years.”
Photo Caption: Hinton Oaks Industrial Park in Knightdale has reached 100 percent occupancy. (Credit: Foundry Commercial)
About Foundry Commercial
Foundry Commercial is a full-service real estate services and investment company with over 330 employees and more than 50 million square feet of management and leasing across the Southeast and Texas. Since 2007, Foundry has provided leasing, brokerage, building management, corporate services and project management services, and is the largest real estate service provider to religious and not-for-profit organizations in the country. Foundry also includes a development and investment platform that is fully integrated into its services business, leveraging its local market expertise to control more than one billion in advantaged investment opportunities with their JV partners. For more information, visit www.foundrycommercial.com.
Lauren Leetun, APR