JLL Repositions Chatham County Megasite as Industrial & Life Sciences Park
Formerly known as Moncure Megasite, Triangle Innovation Point spans over 2,150 acres within the Raleigh MSA
Raleigh, NC, (June 1, 2021) – JLL has been tapped to market and lease Triangle Innovation Point, a recently repositioned life sciences and advanced manufacturing park in North Carolina’s Chatham County. JLL Executive Vice President Matt Winters, Vice President Al Williams, and Capital Markets Director Sarah Godwin oversee the listing.
Formerly known as Moncure Megasite, Triangle Innovation Point encompasses over 2,150 acres and can be subdivided for specific users as needed, with sites available from 10 acres to 1,000 acres. The first phase of development at the park, TIP West, is a joint venture between Samet Corporation, Lee-Moore Capital and a Denver-based family office. It will span 400 acres. Negotiations with end users are well underway, and JLL expects to have multiple buildings under construction by year end 2021. The second phase of development, TIP East, will encompass the remaining 1,750 acres of the site. TIP East infrastructure required to begin building construction has recently been completed, and additional on-site infrastructure is expected to begin with commencement of construction on TIP East.
“The repositioning of Triangle Innovation Point comes at a time when the Research Triangle’s life sciences sector is experiencing unprecedented growth. Proximity to three Tier 1 universities and access to a highly educated talent pool places Raleigh-Durham among the top five life sciences clusters in the country,” said JLL’s Winters. “By offering unmatched speed to market, a wide range of building layouts, and premier highway, rail, air and port access, Triangle Innovation Point presents an outstanding opportunity for a variety of users. We’re confident this will be a successful new chapter for the project.”
The Triangle Innovation Point site is controlled by one owner who has worked to ensure timely completion of all necessary site infrastructure for road interchanges, rail service, water/sewer infrastructure and telecommunications services. Chatham County recently voted to approve additional on-site funding, which will support infrastructure and roadwork for Triangle Innovation Point.
“The Chatham EDC is pleased to be part of an all-star team that is marketing the Triangle Innovation Point,” said Michael Smith, president of Chatham Economic Development Corporation. “This is a unique location for a state certified site of over 2,000 acres with access to the workforce and amenities of the Research Triangle region. This site is also 20 minutes from Chatham Park, the largest mixed use project in North Carolina. We believe the timing of TIP and Chatham Park offers users an unmatched opportunity.”
Located less than 30 minutes from the heart of Research Triangle Park, 10 minutes from the I-540 loop and less than 25 miles from I-40 and I-440, Triangle Innovation Point provides users an opportunity to tap into the thriving Raleigh-Durham economy – a hotbed of innovation for biotechnology and life sciences companies. With 20 colleges and universities within 60 miles of the site, Triangle Innovation Point offers access to a labor force of more than 1.5 million. A CSX rail line runs along the northern edge of the property, and existing Norfolk Southern and CSX rail lines intersect just southeast of the site. Raleigh-Durham International Airport is located 30 minutes northeast of the park, and five major ports along the Georgia, South Carolina, North Carolina and Virginia coasts are easily accessed by road and rail.
According to JLL, over 600 life sciences companies operate in the Raleigh-Durham region. The sector contributes almost $10 billion to the regional economy and accounts for 2.5% of the area’s employment.
For more information on leasing opportunities at Triangle Innovation Point, visit www.triangleinnovationpoint.com.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 91,000 as of March 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.