Summit Real Estate Group Sells 550,992-SF Eaton-Leased Industrial Facility in Youngsville, N.C., With JLL

Summit Real Estate Group has sold Phase III of US 1 North Commerce Center, a 550,992-square-foot Class A cross-dock industrial facility in Youngsville, N.C., just north of Raleigh, the firm announced Oct. 8. JLL represented Summit in the sale.

The build-to-suit building is leased to Eaton Corporation, a Fortune 500 power management company, and was fully leased at the time of sale. The buyer was Link Logistics. Construction on Phase III began in the first quarter of 2025, and the building was delivered in the second quarter of 2026.

Phase III Property Details

Phase III, also referred to as the Eaton building, sits at 2545 Innovation Loop in the Franklin County industrial submarket north of Raleigh. It is a single-tenant, Class A cross-dock logistics facility. The property was sold in the third quarter of 2026, shortly after its delivery.

Summit sold the asset through its Arrowrock U.S. Industrial Fund IV, which acquired the 106-acre site on which the park is built.

US 1 North Commerce Center Campus

US 1 North Commerce Center is a five-building industrial park totaling 1,416,307 square feet, or approximately 1.4 million square feet. Summit's Arrowrock U.S. Industrial Fund IV acquired the 106-acre site in the fourth quarter of 2022. Development began in the second quarter of 2023 and was completed in the second quarter of 2026.

In addition to Eaton, tenants in the park include Southwire, Amcor, Robling and PlanIT ROI. The project has been described as a roughly $164 million industrial park along U.S. Highway 1 and Long Mill Road, approximately 25 miles north of Raleigh.

The site offers access to U.S. Highway 1 and the Raleigh market. Summit's property materials place it about 12 miles from I-540 and 27 miles from I-85.

Summit's Development and Disposition Activity

The sale follows a sequence in which Summit acquired land, delivered industrial space through its fund platform, leased the completed building and sold it after delivery. Summit describes ground-up industrial development and integrated investment and asset management as core activities. The firm has executed more than $1.25 billion of acquisitions and developments totaling over 14 million square feet.

Summit has other industrial projects in the Raleigh area and beyond. It has delivered Phase I of Wendell Commerce Center, a nearby project of three Class A warehouse buildings totaling 493,211 square feet. The firm also has planned the approximately 221,000-square-foot Catawba Commerce Center in the Charlotte market, where construction was expected to begin in the second quarter of 2026.

Market Context

For Link Logistics, the acquisition adds a recently delivered, single-tenant industrial asset with a Fortune 500 tenant in place. The transaction reflects continued investor interest in new, fully leased, build-to-suit logistics buildings in growth markets such as the Raleigh area.

Sources

• Summit Real Estate Group: Summit Announces Disposition of US 1 North Commerce Center – Phase III in Raleigh, NC