A years-long vision come to fruition, THE YIELD by Crescent Communities is poised to revolutionize the landscape of life sciences and innovative manufacturing in North Carolina’s Greater Triangle area. With two campuses strategically located in the Town of Holly Springs in southwestern Wake County, THE YIELD Holly Springs and THE YIELD North showcase prime campus locations, with entitlements approved to meet speed-to-market demands for over 3 million square feet of lab, office, research & development, and retail space.
Over the past several years, North Carolina has seen an influx of new residents due to the COVID-19 pandemic. In fact, Wake County, saw a staggering 5.4% increase in population between April 2020 and July 2023, reaching more than 1.2 million total residents and surpassing the state’s overall growth rate of 3.8%. Because of this population boom and resulting economic growth, North Carolina has emerged as an evident site selection choice across industries. The COVID-19 pandemic also created an especially notable need for innovative manufacturing, which includes medical manufacturing technologies that can improve drug quality, address shortages of medicines, and help ensure quick regulatory approvals. From population growth to meeting the medical moment, THE YIELD is well-positioned to meet this rising demand across the board.
Below are five of the state’s most compelling factors for growth and opportunity helping to attract high-production manufacturing to the Triangle region:
- Proximity to Research Institutions — North Carolina’s Triangle region is home to several prestigious research institutions, including Duke University, the University of North Carolina at Chapel Hill, and North Carolina State University, that provide a rich talent pipeline as well as cutting-edge facilities and resources.
- Skilled Workforce — The state boasts a highly skilled employment base, particularly in the fields of science, technology, engineering, and mathematics (STEM). This workforce is essential for the operation of innovative manufacturing facilities that require specialized expertise.
- Collaborative, Business-Friendly Environment — North Carolina offers an attractive business ecosystem with competitive tax incentives, low operating costs, and supportive regulatory processes. The Tar Heel State is among the nation’s leaders in collaborative efforts between industry, academia, and government with a common goal of supporting statewide growth and innovation.
- Infrastructure — From highways and rail to global airline hubs, the state has well-developed transportation networks and other services that are essential for the efficient operation of industrial facilities.
- Market Demand — There is a growing need for life sciences and innovatively manufactured products, including pharmaceuticals, vaccines, and industrial enzymes. A report from CBRE shows research and development spending in 2023 reached almost $180 billion with nearly $10.3 billion in U.S. life sciences venture capital on the cusp of investment.
In 2020, Crescent Communities, in collaboration with Timmons Group and industry partners, began the ambitious vision of designing and permitting 150 acres for THE YIELD Holly Springs campus. The vision for Crescent Communities’ proposed campus was presented as a Planned Unit Development (PUD) to the Town of Holly Springs, receiving approval in 2021. Timmons Group collaborated with the ownership team to design and permit the infrastructure that would serve the expansive project.
The project’s first phase kicked off with the development of a 25-acre parcel in Holly Springs that included the development of two (2) 105,000-square-foot buildings and associated infrastructure design and permitting. Building designs incorporated meticulous planning, from the 135-foot truck courts to the parking ratio of 2.5 per 1,000 square feet of tenant space.
Through the campus’ second phase of development, two additional speculative facilities were built, each 110,000 square feet, with planned amenities to accompany the buildings. While THE YIELD Holly Springs has developed 430,000 square feet to date, the campus is permitted and entitled to build up to 2 million total square feet of innovative manufacturing and life sciences space and is expected to span an estimated 12 buildings at full buildout.
The infrastructure for THE YIELD Holly Springs—developed and implemented by Timmons Group—is as impressive as its build. Our team worked to create a half-mile of new onsite roads and sidewalks built to town standards and spearheaded nearly a mile of offsite road widening to transform two-lane roads into four-lane divided thoroughfares, realigning a major intersection and incorporating traffic signals to improve congestion. Additionally, we boosted water, reclaimed water, and sewer lines to boost capacity, and created lifestyle-friendly amenities like greenways and walking trails to enhance connectivity and sustainability of the industrialized area.
An obvious success, THE YIELD Holly Springs set the stage for the next chapter of Crescent’s life sciences and innovative manufacturing growth in the Triangle —THE YIELD North.
THE YIELD North is an 83-acre campus located on the border of Apex and Holly Springs. Showcasing 1.3 million square feet of innovative manufacturing, laboratory, and office space, THE YIELD North anticipates a $500 million investment supported by highly intentional infrastructure planning offered by Timmons Group experts.
Comprised of up to six buildings, Crescent Communities’ THE YIELD North campus will offer additional invaluable resources to the quickly expanding needs of innovative manufacturing and life sciences tenants looking to be in the Raleigh/Durham market.
THE YIELD life sciences and innovative manufacturing campuses in Holly Springs encompass a sprawling total of over 233 acres, transforming the Town of Holly Springs into a booming beacon of economic growth. With its vast acreage and commitment to customization, THE YIELD is redefining how innovative manufacturing can enhance regional amenities, local infrastructure, and economic health and will serve as a catalyst for growth for North Carolina’s Triangle region in the years to come.
