JLL secures $41.9M construction financing for Crossroads 55 industrial park

CHARLOTTE, May 13, 2025 – JLL Capital Markets announced today that it has arranged $41.9 million in construction financing for Crossroads 55, a three-building, 487,200-square-foot Class A industrial development in Fuquay-Varina, North Carolina, part of the Raleigh-Durham market.

JLL worked on behalf of the borrower, Stotan Industrial, to secure the five-year, floating-rate loan through United Bank.

Located at 200 Dickens Road, Crossroads 55 will feature three state-of-the-art industrial buildings ranging from 115,080 to 221,760 square feet. The facilities will offer 32-foot clear heights, ample dock doors and auto parking and trailer storage. Designed to meet the needs of Raleigh-Durham's diverse industrial tenant base, the project will accommodate a wide array of occupants and offer flexible suite sizes between 20,000 and 100,000 square feet.

The project’s prime location offers numerous advantages, including direct access to NC-55, a major retail corridor serving Holly Springs and Fuquay-Varina, and proximity to the intersection of NC-55 and Hwy 401. The site is only a 10-minute drive from the I-540 extension, enhancing regional connectivity. The property is within a 30-minute drive of both Research Triangle Park and Raleigh-Durham International Airport, providing access to key economic drivers.

Construction on Crossroads 55 is set to begin in May 2025, with completion expected in April 2026.

The JLL Debt Advisory team was led by Managing Director Taylor Allison, Director Ward Smith and Associate Trent Tompkins.

"Crossroads 55 represents a strategic addition to the Raleigh-Durham industrial market, which continues to experience robust demand outpacing available supply," said Allison. "Given the scarcity of available industrial land and entitlement constraints in the area, Crossroads 55 is well-positioned to capitalize on the strong fundamentals and projected growth in this dynamic Southeast industrial hub."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Stotan Industrial was founded in 2021 as a private equity based industrial real estate acquisition and development firm. The company is focused on utilizing strategic relationships, deep market knowledge and extensive development experience to maximize opportunities and returns. Stotan Principals and several key investors have over 100 years of development, leasing and capital market experience. Collectively they have completed over 100 million square feet of industrial transactions valued in excess of $25 billion.

United Bank is a premier community bank and a subsidiary of United Bankshares, Inc. (NASDAQ: UBSI). United has consolidated assets of approximately $33 billion with over 240 offices located throughout North Carolina, South Carolina, Virginia, West Virginia, Maryland, Ohio, Pennsylvania, and Georgia, as well as Washington D.C. The Bank is dedicated to growing the relationships it has built since 1839 and offering a competitive suite of banking and lending products, treasury management, wealth management, mortgage services, personal and business credit cards, and more. For more information, visit BankWithUnited.com.