Industrial Developer Bullish on Raleigh-Area Warehouse Market

Wake Stone Property Company increased the size of its seventh and final building by 30 percent in its Hinton Oaks Industrial Park in Knightdale. The Triangle Business Journal reports the company says it’s seeing strong demand and is trying to get the maximum amount of building space out of the building site.

The seven buildings make up 1.2 million square feet. Five of the buildings are leased to tenants such as 84 Lumber, Daltile, Chadwell, Spectrum Paint and Eaton. At Hinton Oaks, site work will begin on the final building this summer, allowing the developer to go vertical in early 2026. Delivery of the building is expected in early 2027. A tenant has not yet been found for the sixth building. The industrial park has been in the works since 2013.

Williams Realty & Building Company is the contractor, Piedmont Land Design is the civil engineer, and Merriman Schmitt Architects of Charlotte is the architect. First Citizens Bank provided the financing for the sixth building. Cost estimates for the last two buildings are between $20-25 million a piece.