St. John Properties Moving Ahead on Wake Forest Mixed-Use Project

St. John Properties has acquired a 30-acre site in Wake Forest, North Carolina with intentions to develop Wake Forest Exchange, a mixed-use business community comprised of nearly 165,000 square feet of flex/R&D, single-story commercial office, and retail space. Wake Forest Exchange is situated near Star Road and South Main Street in Wake Forest. The first phase of development is slated to commence in early 2024.

Phase I plans include development of two flex/R&D buildings consisting of approximately 95,000 square feet, a 25,000 square foot office building, and a 10,000 square foot retail building for a total of 130,000 square feet. The remaining flex/R&D and retail buildings will be phased based on the leasing pace, to execute the entire development plan by 2027. The project is expected to add nearly 500 jobs at final build-out and leasing.