Merritt Properties Breaks Ground on 790,527-SF RDU Business Park Near Raleigh-Durham Airport

Merritt Properties has broken ground on RDU Business Park, a 150-acre light industrial development located three miles from Raleigh-Durham International Airport in Morrisville, North Carolina, within the Town of Cary. Upon full buildout, the project will encompass up to 13 single-story industrial buildings totaling 790,527 square feet at 2040-2060 Seagirt Ave.

The groundbreaking marks the start of the West Phase, the first of multiple planned construction phases. With this project underway, Merritt Properties' North Carolina portfolio will grow to more than 1.35 million square feet across six business parks.

West Phase Details and Timeline

The West Phase covers 31 acres and will deliver three single-story light industrial buildings totaling 201,250 square feet. The three buildings measure 54,000 square feet, 72,000 square feet, and 75,250 square feet, respectively. Completion is scheduled for the fourth quarter of 2027, and all three buildings are available for preleasing.

The first two buildings will feature 18-foot clear heights, while the third will offer a 24-foot clear height. All three buildings will include rear-loading docks, drive-in capabilities, 30- and 40-foot column spacing, free surface parking, and 277/480-volt electrical service. Two of the buildings will share a 150-foot-deep truck court, while the third will feature a dedicated 110-foot truck court.

Upon full completion, RDU Business Park will include buildings ranging from 8,600 to 108,225 square feet, with additional phases developed as market demand warrants. Leasing for the park is being handled directly by Merritt Properties.

Location and Connectivity

RDU Business Park is positioned in the heart of the Research Triangle, with direct access to Raleigh-Durham International Airport, Interstate 540, Interstate 40, and U.S. 70. The site is near Research Triangle Park and within reach of major employment centers, leading research universities, and the retail and dining options at Brier Creek Commons.

The Cary and Morrisville submarket commands some of the highest industrial asking rents in the Triangle region, in the range of approximately $12 to $14 or more per square foot on a net basis, reflecting the corridor's proximity to airport and logistics infrastructure. Construction activity across the broader Triangle industrial market climbed from 2.2 million square feet in the fourth quarter of 2024 to 5.6 million square feet in the first quarter of 2026.

Voices on the Development

Keith Wallace, regional director of Merritt Properties' North Carolina office, said the company's continued expansion in the state reflects confidence in the market's trajectory. "We've continued to grow our presence in North Carolina because we believe in the strength and future of this market," Wallace said. "The West Phase is the first step in delivering a premier shallow-bay industrial park that will meet growing demand and support the next wave of business growth across the Triangle."

Scot Berry, Cary's assistant town manager and chief development officer, highlighted the project's economic development implications. "The construction of RDU Business Park combines exceptional connectivity with flexible space where companies can put down roots, build their teams, and grow," Berry said. "We're excited to see this project break ground, helping more businesses choose Cary and remain here as they provide jobs and opportunities for our community."

Mark Lawson, president of the Cary Chamber of Commerce, also welcomed the development. "The start of construction on the first phase of RDU Business Park is an important milestone for Cary and the continued growth of our regional economy," Lawson said. "High-quality light industrial space remains one of the most in-demand product types, providing businesses with the flexibility to expand while creating quality jobs. We appreciate Merritt Properties' investment in Cary and look forward to welcoming the companies that will help shape the future of this business park."

Triangle Industrial Market Context

The Raleigh-Durham industrial market has seen vacancy rates rise as a wave of new supply is delivered, with reported vacancy figures ranging from approximately 6.9 percent to 9.7 percent across various submarkets through mid-2026. Despite the uptick in vacancy, asking rents have continued to advance, with average figures across the market ranging from roughly $10.17 to $12.73 per square foot depending on submarket and product type. Year-over-year asking rent growth reached approximately 7.0 percent in the first quarter of 2026.

Large-block availability remains notably tighter than the overall market, with vacancy in the 500,000-square-foot-and-above segment reported at approximately 2.0 percent — a dynamic that distinguishes demand patterns for big-box space from the shallow-bay, flexible product that RDU Business Park is designed to deliver.

Merritt Properties is marketing RDU Business Park to industrial, warehouse, and distribution users seeking flexible space in the Research Triangle. More information on leasing opportunities is available at www.Merritt-RDU.com.

Sources: PR Newswire — Merritt Properties Breaks Ground on RDU Business Park