Edgewater Ventures Will Invest $40M In Benson Distribution Space
// THE JOHNSTON COUNTY REPORT
BENSON –
Edgewater Ventures, a Raleigh-based commercial real estate investment and development firm with nearly 2.7 million square feet of existing assets, will build a 501,120 square-foot Class-A distribution facility on Halmin Road in close proximity to the Interstate 40 and Interstate 95 interchange in Benson. The company’s $40 million investment will be the initial development of what will ultimately result in nearly 1.1 million square feet of Class A industrial space that will be known as Crosspoint Logistics Center.
At just over 500,000 square feet, the first phase will be the largest speculative industrial facility ever constructed within the Raleigh-Durham MSA. Company projections indicate that the facility could employ as many as 300 workers after it becomes operational in the first quarter of 2023. The second phase would more than double Crosspoint’s square footage and workforce.
Monday morning, Johnston County’s Board of Commissioners approved an economic development incentives grant in support of Crosspoint Logistics Center. The facility will add $73,351,891 in annual output to the county’s economy, according to an economic impact study by economist Michael Walden, PhD.
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