Construction is underway on the first of eight planned commercial developments in an existing business park in Zebulon.
Commuters along East Gannon Avenue will notice a new monument sign at the entry to the former Zebulon Industrial Park, at the intersection of Industrial Drive. The new signage, reading Triangle East Business Park, is part of a rebranding intended to draw interest to the sites in the works at the location.
“Zebulon is a part of the Triangle and we need people from outside this market to understand that just because Zebulon is outside Raleigh or (Research Triangle Park), you can still be a business there that supports the Triangle,” said Daniel Jackson of the real estate agency, CBRE Raleigh. “Just because Zebulon is in the far east side of the Triangle, it still has great access to I-95, U.S. 64, future I-495 and I-40.”
The development is a joint venture between Mark Andrews and the Noël family, Jackson said.
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Andrews is the president and founder of TME Investments, a development group behind several large sites in the Triangle including the 73,000-square-foot Lake Plaza East in Raleigh, 74,000-square-foot Miami North Office Park in Durham and the 53,000-square-foot Investment Plaza near North Hills in Raleigh.
Marc Noël is the founder and chairman of Nomaco and Nomacorc, resident manufacturing companies in the business park.
The master plan for Triangle East calls for six new sites to the east of Industrial Drive and South of NMC Drive, and two to the north of NMC adjacent to Nomacorc. CBRE is advertising available building space zoned heavy industrial and ranging from 20,000-72,800 square feet on lots ranging from 3-8.27 acres.
Jackson said the majority of the buildings are being planned as flex use, which could be “anything from a State Farm to a plumber.” The largest building, penciled in next to Nomacorc, is planned as a distribution site.
Each site will ultimately be fitted to the needs of future tenants, Jackson said.
Developers have set a tentative completion date of March for the first site, a 20,000-square-foot divisible building sitting on 8.27 acres. The site, located across from Wake Tech’s Eastern Wake Education Center, is cleared and mostly graded. It remains speculative.
CBRE is also actively marketing the other seven spaces, although there is no timeline set on construction.
“Obviously, if we have a tenant that wants to go in that larger building, we’ll start construction immediately to accommodate them,” Jackson said. “If we get that 20,000-square-foot building 100 percent leased, we will most likely go ahead and build another building, and I don’t know which one that might be.”
Jackson said the lot on the east corner of East Gannon and Industrial may take on a different use than the others due to its location.
“If we build that one, it might be more of a retail use like a dry cleaner or a restaurant or a daycare,” he said. “We obviously need more people in that (business) park to support a retail use.”