News
Raleigh, N.C. (May 9, 2025) – Foundry Commercial is pleased to announce the successful sale of a nearly 40-acre infill, industrial site along the Highway 55 corridor in Fuquay-Varina, N.C. Foundry Partners Jim Allaire, Sarah Godwin, and Karl Hudson, IV, CCIM represented the seller in the transaction. The buyer, Chicago-based Stotan Industrial, will deliver approximately 487,200 square feet of small-bay industrial space across three new buildings. Stotan anticipates the project will be delivered Q2 2026.
This marks Stotan Industrial’s first project in the Raleigh-Durham region and introduces the first large-scale, institutionally designed industrial development in Fuquay-Varina in decades. The project is conceptually planned to offer a mix of warehouse and flexible-use space to serve service-oriented and last-mile users seeking in-town industrial solutions.
“This project is particularly exciting because it caters to an in-town, service-oriented industrial user base, filling a real gap in the market,” said Godwin. “It’s also unique in that it’s the first development of this scale and institutional quality to come to Fuquay-Varina, especially in today’s climate. The timing and location are ideal.”
Situated on one of the last remaining vacant parcels in Fuquay-Varina with in-place heavy industrial zoning, the property offers unmatched flexibility and scalability for a variety of industrial uses. Its location in the high-growth southwest Wake County corridor—linking Research Triangle Park to Cary, Apex, and Holly Springs—positions it squarely in the path of robust regional expansion.
The property benefits from direct access to Highway 55 and proximity to major routes including Highway 540 and U.S. 401. As a designated Brownfields site, it also comes with significant development incentives and reduced real estate taxes, further enhancing the project’s long-term value.
The Southwest Wake submarket is one of the Triangle’s fastest-growing industrial hubs, with more than 1 million square feet of space currently under construction and asking rents that have climbed over 10% year-over-year. Foundry Commercial continues to play a leading role in advancing industrial development across the region through its land services platform and long-standing relationships with both institutional and local stakeholders.