HOLLY SPRINGS – There’s more commercial life science space coming to Wake County. Lots more.
That’s as the developer of life science campuses known as THE YIELD plans to continue to develop facilities on 230 acres in Holly Springs. In addition, the developer, Crescent Communities, has bought an additional 83 acres of land along US-1 that will become a future development under the same brand name.
Charlotte-headquartered Crescent Communities shared an update on its progress in Holly Springs and the news of the purchase of the 83-acre parcel in a statement earlier this week.
According to Crescent, each THE YIELD campus will provide “bio-manufacturing and lab space in markets offering strong access to life science talent, great quality of life, and a welcoming business environment.”
The Holly Springs development spans three separate life science campuses in the region, the company said. Each of the three is close to an existing life science facility, Seqirus, Amgen, and FUJIFILM Diosynth-Biotechnologies.
In total, those three spaces will add about 2 million square feet of biomanufacturing and lab space, with a total of more than $1 billion invested by project completion, the company said in its statement.
“We see THE YIELD as an opportunity to inject Crescent Communities’ commercial experience into an industry with substantial demand and opportunity,” said Brendan Pierce, President of Commercial at Crescent Communities in the statement. “We are confident that businesses seeking certainty, speed to market, and bio-manufacturing product in markets with both infrastructure and life science talent will find THE YIELD well positioned to suit their companies’ needs.”
The first phase of the project was recently completed, and upon its completion was sold in December 2022 to a partnership with Apollo Global Real Estate Management and GeneSuites.
The next two biomanufacturing buildings are now underway, the company said in its statement. That’s the second phase of the project, which began construction at the end of 2022. That phase will be ready for tenant upfit in the fall with building delivery by end of 2023, the company said.
Crescent acquired an additional 120 acres in February 2022, WRAL TechWire reported.