Partners Acquire 120 Acres in Holly Springs to Expand $500M Life Sciences Campus

Charlotte, NC-based Crescent Communities has acquired 120 acres in Holly Springs to develop up to two million square feet of biomanufacturing, lab and office space within The Yield. The $500-million life science campus, about 20 miles southwest of Raleigh, is already under construction.

The acquisition was made in partnership with Nuveen Real Estate with the intent of expanding Crescent Communities’ life science platform to deliver bio-manufacturing ready and built-to-suit tenant solutions within the Research Triangle’s life science sector. Crescent Communities will begin to deliver multiple building options for tenants in the fourth quarter of 2022.

Crescent Communities began construction on The Yield’s first phase in December 2021 with site work and speculative development of three buildings totaling over 260,000 square feet. In its entirety, The Yield will offer options for small to large biotech companies to create individualized spaces within that can meet speed-to-market demands with opportunities for future expansion.