RALEIGH – CBRE|Raleigh’s Industrial & Logistics group is pleased to have represented Merritt Properties in its recent transactions with Performance Print Services and Pendergraph Machines at Merritt TW Crossing. The companies are leasing over 12,000 square feet of combined light industrial space across two buildings at the upcoming flex/light industrial park in Durham.
Joining current tenant Shimadzu Scientific Instruments, Performance Print Services will lease 5,424 square feet at 1 TW Alexander Drive, the first flex/light industrial building constructed at the park. The commercial printer will relocate from a nearby Durham office to expand its operations. Moving from Spaces Crabtree Terrace, Merritt Properties will establish its North Carolina corporate office in 2,712 square feet within the same building, bringing the building to 88 percent leased.
The second building constructed at the park, 3252 S. Miami Boulevard, is also attracting significant leasing activity. Pendergraph Machines, an expert in custom machinery and product manufacturing, will relocate and move into 7,238 square feet.
Merritt TW Crossing will consist of four flex/light industrial buildings totaling 284,240 square feet. Located adjacent to Research Triangle Park at the intersection of TW Alexander Drive and S. Miami Boulevard, the park is situated on a 51-acre tract purchased by the Maryland-based developer in January 2020. Construction began in May 2020 and the final building is expected to deliver this Spring.
CBRE|Raleigh’s Ann-Stewart Patterson and Austin Nagy represented Merritt Properties in the transactions.