United Bank Provides $42M Construction Loan for North Carolina Industrial Campus

Stotan Industrial has secured $41.9 million in construction financing to build Crossroads 55, a three-building industrial development that will span nearly 500,000 square feet outside of the Raleigh-Durham submarket in North Carolina. 

United Bank provided the five-year, floating-rate loan, while a JLL Capital Markets team of Taylor Allison, Ward Smith and Trent Tompkins arranged the financing, according to a JLL release. 

Allison said in a statement that Crossroads 55 is entering a market at a time when Raleigh-Durham has seen industrial demand outpace the available supply for both assets and land in recent years, putting Crossroads 55 in position to benefit almost immediately from competitive rents.  

“Crossroads 55 is well positioned to capitalize on the strong fundamentals and projected growth in this dynamic Southeast industrial hub,” he added. 

Located at 200 Dickens Road in Fuquay-Varina, N.C. — a city about 34 minutes south of Raleigh — Crossroads 55 will feature three Class A industrial buildings that will open at 115,080 square feet on the low end and 221,760 square feet on the high end. In total, the project will span 487,200 square feet. 

The site is near Interstate 540 and Highway 401 and is a 30-minute drive from the Research Triangle Park of Duke University, North Carolina State University and University of North Carolina-Chapel Hill, and the Raleigh-Durham International Airport. 

Construction will begin this month and is expected to be completed by April 2026. 

Stotan Industrial did not respond to requests for comment. 

Brian Pascus can be reached at bpascus@commercialobserver.com