Patriot Park Continues Its Market Success With 100% Pre-Leased Phase II
Strategic Capital Partners and Westminster Capital Announce New Tenants at Patriot Park
January 12, 2021 – Indianapolis – A joint venture between Indianapolis-based Strategic Capital Partners, LLC (“SCP”) and Westminster Capital, LLC (“Westminster”) announced two substantial long-term leases with life science companies totaling 375,000 square feet in Phase II of Patriot Park, its 80+ acre industrial park in Durham, North Carolina.
Patriot Park’s Research Triangle location at Miami Boulevard and Patriot Drive is ideal for warehouse, distribution and R&D users. Located 6 miles from the Raleigh International Airport, the park offers easy access to I-40 and Highway 147/Durham Freeway which facilitates distribution to every major market in the U.S. Patriot Park’s market strength and quality construction is evidenced by the execution of over 640,000 square feet in leases to top tier tenancy within the last 2 years across its four Class A buildings. One final building pad that can accommodate up to 200,000 square feet remains available for development and upon its completion the Park will total 850,000 square feet.
SCP’s CEO, Richard Horn, believes the demand for Class A industrial space in this submarket will continue to be robust. “We remain invested in the RTP submarket as it maintains its position as the preferred location for most companies seeking modern industrial and life science facilities in the greater Raleigh area.”
“We embarked on Patriot Park Phase II with high expectations and are pleased to see the state-of-the-art facilities we develop with our longtime partner, SCP, draw such significant tenant commitments”
Westminster’s Managing Principal, Mark Mazur, commented, “We embarked on Patriot Park Phase II with high expectations and are pleased to see the state-of-the-art facilities we develop with our longtime partner, SCP, draw such significant tenant commitments.”
Foundry Commercial’s Managing Director, Jackson Rives, represented the Landlord on all Patriot Park lease transactions. Foundry also manages the property for the partnership.