Welcome Group Celebrates Ribbon Cutting at 394,800 SF Four Building Phase I at Welcome Venture Park in Durham, NC

All buildings set to deliver in 2024

Durham, NC October 7, 2024 – Welcome Group, LLC, a Houston-based commercial real estate developer, celebrated the ribbon cutting of its Welcome Venture Park project in Durham, North Carolina. This milestone marks a significant step in the company's expansion across the Southeastern United States.

Local and state leaders who addressed the gathering included:

• Senator Mike Woodard

• Representative B. Ray Jeffers

• Geoff Durham, President & CEO of the Greater Durham Chamber of Commerce

• Vice Chair Nimasheena Burns, Durham County Board of Commissioners

• Mayor Leonardo Williams

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The ceremony also welcomed representatives from key community organizations, including the Durham Public School Foundation, Durham Tech, and the Braggtown Community Association.

“North Carolina’s Triangle Region is strategically positioned halfway between Miami and New York, conveniently connecting businesses to the US market. This market is an outstanding area for growth with the largest research park in the United States that is home to numerous high-tech companies, life sciences companies, and various enterprises, leading universities, and an educated workforce. We feel confident Welcome Venture Park is well positioned in the marketplace” states Welcome Wilson, Jr., president, and CEO of Welcome Group, LLC.

The Durham project seeks to attract industrial, flex, and life science tenants for the approximately 1.3 million square feet of development. The site is situated in a premier position on 160-acres on Old Hamlin Road near Oxford Road and the future North Durham Parkway, with easy access to Highway 70 and I-85. Phase 1’s development will consist of four shallow bay / warehouse industrial buildings with varied clear heights, depth, and space opportunities. Phase 1 is scheduled to be completed in 2024. Construction financing for Phase I was provided by U.S. Bank.

This business park will be designed with green space and natural areas creating an inviting location for its tenants. Welcome Venture Park is master-planned to accommodate a variety of businesses from small to large building uses and national logistics and warehousing, lab, and life-tech.

"We are thrilled to expand in the rapidly growing Triangle market and to fulfill the area’s significant demand for industrial product”, says Ted Kakambouras, director of acquisitions, southeast region for Welcome Group. “Phase 1’s buildings and leasable areas will allow us to serve a diverse mix of business users and benefit the overall community.”

RW2 Development Company, a Greensboro, North Carolina based development and consulting firm is handling entitlements, development, and project management for the Welcome Group. Other local consultants involved in the project are Choate Construction, Withers Ravenel, Maurer Architecture, and Sullivan Eastern. Colliers International is handling leasing for the project. For more information visit welcomeventurepark.com.

About Welcome Group

Welcome Group continues to seek additional acquisition and development opportunities across the Southeastern United States. Ted Kakambouras is the acquisitions director of southeast region and can be contacted at tkakambouras@welcomegroup.com. “We are continuing to expand our footprint across the U.S. and are always interested in attractive new acquisition opportunities”.

Welcome Group, LLC owns over 120 industrial properties in Texas and the southeast which comprises of over 9 million square feet. The company also offers build-to-suit and design-build services for interested firms.