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HWY 55 & US 1A P E X , N O R T H C A R O L I N A
±48.04 ACRES OF MIXED USE DEVELOPMENT OPPORTUNIT Y FOR SALE
CONTENTS02 EXECUTIVE SUMMARY
03 PROPERTY INFORMATION
07 LOCATION OVERVIEW
12 MARKET SNAPSHOT
15 RALEIGH AREA HIGHLIGHTS
FOUNDRY COMMERCIAL / 2
EXECUTIVE SUMMARY
HIGHWAY 55 & US 1 APEX
Foundry Commercial is pleased to offer a highly desirable development tract for sale located along US 1 Highway and NC Highway 55 / East Williams Street in Apex. This ±48.04-acre parcel represents a trophy development opportunity within the rapidly growing Apex market.
• Unbeatable local and regional transportation connectivity
• Located in one of the fastest growing submarkets in the Triangle which allows a developer to take advantage of increased infrastructure, population growth and rising incomes
• Strategic and highly recognizable US 1 Highway/ NC Highway 55 location adjacent the future Veridea 1,100 acre mixed-use development with convenient access to Interstate 540, the Research Triangle Park and the Raleigh Durham International Airport
• Entitlements in place which allow for up to 300 apartment units, 250,000 square fee of retail/commercial development, 500 hotel rooms and 400,000 square feet of office/employment space
SITE
PROPERTY INFORMATION
FOUNDRY COMMERCIAL / 4
PROPERTY INFORMATION
ADDRESS 1528 East Williams Street (Highway 55)
OWNER ENTITY Aquiline Apex Owner LLC
WAKE COUNTY PIN 0741725923
MUNICIPALITY Town of Apex
TOTAL ACREAGE ±48.04 acres (per Wake County GIS)
CURRENT ZONING PUD-CZ
CURRENT USAGE Raw Land
SEWER & UTILITIES Municipal water and sewer
LIST PRICE Call for details
HIGHWAY 55 & US 1 APEX
LEGEND
COMMERCIAL (±5.9 ACRES)
MULTI-FAMILY RESIDENTIAL (±16.5 ACRES)
COMMERCIAL/OFFICE (±11.9 ACRES)
HOTEL/OFFICE (±11.9 ACRES)
OPEN SPACE/BMP AREA (±4.2 ACRES)
1
FOUNDRY COMMERCIAL / 5
PROPERTY INFORMATION
HIGHWAY 55 & US 1 APEX
TOPOGRAPHYTopography is rolling and considered similar to other area sites.
EASEMENTSExisting gas line easement in place on the northern portion of the property.
WATER AND SEWERWater and sewer infrastructure are available and will be provided by the Town of Apex. That said, the developer will be responsible for the development of a temporary pump station which will serve the property until the development of Veridea takes place. A 12'' main water line is currently located within NC Highway 55.
ROAD INFRASTRUCTUREThe parcel is bordered on the north by US Highway 1 and on the east by NC Highway 55 / East Williams Street. The developer will be responsible for road improvements to NC Highway 55 / East Williams Street as well as a connector road which bisects the property.
PROPERTY INFORMATION
ENTITLEMENTS The subject property is located within the Town of Apex’s Planned Unit Development District, PUD-CZ zoning district which allows for a variety of residential, retail, service and commercial uses which promotes a live-work environment. The property has entitlements in place which allow for up to 300 apartment units, 250,000 square fee of retail/commercial development, 500 hotel rooms and 400,000 square feet of office/employment space.
FOUNDRY COMMERCIAL / 6
LOCATION OVERVIEW
LOCATION OVERVIEW
BEAVER CREEK CROSSINGS
BEAVER CREEK COMMONS
1
1
TOLL
540
55
64
SITE
APEX HIGH
SCHOOL
APEX MIDDLE
SCHOOL
APEX ELEMENTARY
SCHOOL
LUFKIN ROAD MIDDLE
SCHOOL
27,000 VPD
FOUNDRY COMMERCIAL / 8
1,100 ACRE VERIDEA FUTURE
MIXED USE DEVELOPMENT
42,000 VPD
49,000 VPD
APEX PEAKWAY
OLIVE CHAPEL ROAD
CENTER STREET
SOUTH SALEM STREET
FOUNDRY COMMERCIAL / 9
LOCATION OVERVIEW
SITE
SOUTH HUGHES STREET
55
1
1
LUFKIN RD
TOLL
540
LUFKIN ROAD MIDDLE
SCHOOL
TOWN OF APEX WATER DEPARTMENT
APEX ELEMENTARY
SCHOOL
1,100 ACRE VERIDEA FUTURE
MIXED USE DEVELOPMENT
FOUNDRY COMMERCIAL / 10
LOCATION OVERVIEW
3 MILE 5 MILE 7 MILE
2017 ESTIMATED POPULATION 50,471 138,306 233,345
2022 PROJECTED POPULATION 56,562 155,046 261,828
2017 ESTIMATED HOUSEHOLDS 18,242 49,954 85,548
2022 PROJECTED HOUSEHOLDS 20,327 55,677 95,398
AVERAGE HH INCOME $114,236 $123,342 $119,840
MEDIAN HH INCOME $102,063 $106,759 $104,704
2017 TOTAL BUSINESSES 1,762 4,799 8,225
2017 TOTAL EMPLOYEES 21,733 47,938 81,409
DEMOGRAPHICS
3MILE 5 MILE 7 MILE
3
FOUNDRY COMMERCIAL / 11
LOCATION OVERVIEW
RESIDENTIAL & COMMERCIAL PERMIT CONCENTRATIONWAKE COUNTY
LEGEND
CONCENTRATIONS
HIGH
LOW
JURISDICTION RESIDENTIAL PERMITS 2017
COMMERCIAL PERMITS 2017
ANGIER 1 0
APEX 1321 22
CARY 855 23
CLAYTON 0 0
DURHAM 0 0
FUQUAY VARINA 558 4
GARNER 193 12
HOLLY SPRINGS 576 4
KNIGHTDALE 242 2
MORRISVILLE 123 3
RALEIGH 1246 66
RDU 0 0
ROLESVILLE 179 1
RTP 0 0
WAKE FOREST 681 8
WENDELL 247 4
ZEBULON 93 2
WAKE COUNTY 721 1
TOTALS 7036 152
SITE
Apex had the most commercial and residential permits of any municipality in Wake County.
MARKET SNAPSHOT
FOUNDRY COMMERCIAL / 13
MARKET SNAPSHOT
RETAIL The property offers a tremendous opportunity for numerous retailers, grocers, restaurants, entertainment, hospitality, lodging and other users to capitalize on the surge of demand in the area.
With the road infrastructure of US Highway 1, NC Highway 55 and Interstate 540, strong retail demand, and continuing residential growth in Apex, the area is ripe for the next wave of development that has become apparent in the marketplace.
Over 6.5 million sf of retail space in the Southwest Wake County submarket enjoys a 3.6% vacancy rate, according to real estate database CoStar.
Numerous anchor and junior anchor retailers are seeking locations in the area and are unable to fin the space or locations that meets their requirements. With a large cluster of these retailers seeking opportunities, there is meaningful demand and a real need for land. This 48 acre tract is well positioned to accommodate this demand.
FOUNDRY COMMERCIAL / 14
MARKET SNAPSHOT
MULTIFAMILY The Raleigh-Durham metro area continues to be one of the hottest multifamily development markets in the country due to a red-hot economic recovery with nearly 50,000 jobs created in the past two years and the #1 Fastest Growing Metro from 2000-2013 according to CityLab (April 2015).
Drilling down to the Apex/Holly Springs market where the subject property is located, there are only 3,787 total units here which constitutes approximately 2.1% of the total Triangle market. The overall vacancy is a healthy 7.3% and the average square footage for new product in this area is roughly 925 square feet with average monthly rents of $1,221 ($1.32 per square foot). There are currently only 168 units under construction, though the local pace of growth indicates that the area is in need of additional apartment development.
FASTEST GROWING LARGE US CITY FROM 2016 - 2030
United Nations Population Division
NO. 2
RALEIGH AREAHIGHLIGHTS
FOUNDRY COMMERCIAL / 16
RALEIGH AREA HIGHLIGHTS
STELLAR NATION-LEADING POPULATION GROWTHHome to more than 2.0 million residents, the Raleigh-Durham CMSA is continually ranked as one of the fastest growing metros in the U.S., welcoming more than 720,000 newcomers between 2000 and 2014 for a 55% cumulative uptick in population.
DIVERSIFIED, INNOVATION-BASED ECONOMYThe Triangle is anchored by world-class universities, well-managed state and local governments, and operations of many of the nation’s leading technology, biotechnology, pharmaceutical, and health care firms.
HIGHLY-RANKED JOB CREATION, QUALITY OF LIFEDue to its robust economy, inviting business climate, highly-educated workforce, established infrastructure, and outstanding quality of life, the Triangle consistently garners accolades touting its appeal to businesses and residents alike.
EXCEPTIONAL EDUCATIONAL CACHET The Triangle moniker references the geographic location of the area’s three most esteemed educational, medical, and research universities: Duke University in Durham, North Carolina State University in Raleigh, and the University of North Carolina in Chapel Hill.
OUTSTANDING LONG-TERM PROSPECTS With the right pieces in place for a thriving economy and a rising quality of life, population and economic growth are fully expected to continue to rank highly amongst other U.S. cities for the long-term.
RALEIGH-DURHAM HAS HISTORICALLY POSTED STRONG JOB GROWTHThe CMSA has a healthy current unemployment rate of 4.4%. The region has added nearly 30,000 net new jobs in the past twelve months.
EXECUTIVE SUMMARY
FOUNDRY COMMERCIAL / 17
ECONOMIC VIBRANCY
No. 4CIT Y WITH THE HIGHEST CONCENTRATION OF TECH JOBS IN THE U.SSIMPLY HIRED
No. 1BEST CIT Y TO L IVE IN THE SOUTHEASTMONEY MAGAZINE
No. 1METRO FOR L IFE SCIENCE CLUSTERSBUSINESS FACILITIES
No. 3TOP LABOR MARKETCAREERBUILDER
No. 2METRO AS A TECH JOB LEADER BUSINESS FACILITIES
No. 2BEST PLACE FOR BUSINESS AND CAREERSFORBES
No. 3METRO FOR ECONOMIC GROWTHBUSINESS FACILITIES
No. 3CIT Y WHERE WHITE-COLLAR EMPLOYMENT IS BOOMINGFORBES
No. 2HOT TEST SPOT FOR TECH JOBSFORBES
FOUNDRY COMMERCIAL / 18
No. 1 BEST PLACE TO L IVEMONEY MAGAZINE
No. 2 TO 10 CIT IES FOR
TECH JOBSFAST COMPANY
No. 1 AMERICAN CIT IES OF THE
FUTUREFINANCIAL TIMES
No. 3 BEST LABOR MARKET IN
THE U.S .FORBES
No. 1 IN STEM EMPLOYMENT GROWTHWALLET HUB
No. 3 BEST CIT Y FOR YOUNG
ENTREPRENEURSMONEYRATES
No. 2 MOST EDUCATED CIT Y
IN THE U.S .FORBES
No. 3 BEST PLACE FOR BUSINESS
AND CAREERFORBES
RALEIGH AREA HIGHLIGHTS
foundrycommercial.com
JIM ALLAIRE, SIORManaging Director(919) 576 [email protected]
KARL HUDSON IV, CCIMSenior Vice President(919) 987 [email protected]
MATT GILLIAMVice President(919) 987 [email protected]
