Welcome Group Announces Full-Building Lease at Welcome Venture Park
100,100-square-foot lease marks another milestone for Durham industrial development
DURHAM, N.C. – June 29, 2026 – Welcome Group, a Houston-based commercial real estate investor and developer focused on manufacturing, laboratory, warehouse, and distribution facilities, today announced it has signed a long-term lease for the entirety of Building C at Welcome Venture Park in Durham, North Carolina. The 100,100-square-foot lease marks another significant milestone for Phase IIA of the development.
The lease underscores the Research Triangle’s position as a destination for life sciences, advanced manufacturing, distribution, and innovation-driven companies.
Located in one of the fastest-growing economic regions in the United States, Welcome Venture Park was designed to accommodate the evolving needs of manufacturing, laboratory, warehouse, distribution, and technology-oriented users seeking access to the Triangle’s highly educated workforce, research institutions, and transportation infrastructure.
“The Research Triangle continues to attract innovative companies across life sciences, manufacturing, distribution, and technology,” said Welcome Wilson Jr., President and CEO of Welcome Group. “Securing a full-building lease at this stage of development validates both the strength of this market and our long-term vision for Welcome Venture Park. Demand for modern facilities that support today’s operational needs remains strong, and we’re excited to expand our investment in the Triangle.”
The lease further builds on the success of Welcome Venture Park, where Phase I, comprising nearly 395,000 square feet across four buildings, is more than 90 percent leased. Existing tenants include Cavalier Logistics, the Food Bank of Central & Eastern North Carolina, Great Day Improvements, Mobile Communications America (MCA), PEP Move, and DeHaven’s Transfer & Storage.
“Companies today are increasingly looking for facilities that support the specific needs of their operations, whether that’s manufacturing, laboratory, distribution, or other specialized uses,” said Ted Kakambouras, Director of Acquisitions, Southeast Region for Welcome Group. “This lease reflects the demand we’re seeing from companies seeking modern, flexible facilities in one of the country’s strongest growth markets.”
Welcome Venture Park is a master-planned industrial and business park spanning approximately 1.3 million square feet across 10 buildings and four phases. Located on Hamlin Road in Durham with convenient access to Highway 70, Interstate 85, and the broader Research Triangle region, the development is designed to accommodate manufacturing, laboratory, warehouse, distribution, and technology-focused users.
Phase IIA, consisting of Buildings C and H totaling approximately 200,550 square feet, is currently under development and scheduled for delivery in Fall 2026. The phase is being financed by City Bank. Building C is fully leased, while Building H offers 100,450 square feet available for lease. Phase IIB, which will add an additional 439,560 square feet across Buildings I and J, is anticipated to deliver in late 2027 and early 2028.
RW2 Development Company serves as development consultant for Welcome Venture Park and oversees entitlements, development, project management, leasing, and asset management. The project team includes Kimley-Horn and WithersRavenel (civil engineering), HagerSmith Design (architecture), Landmark Builders (general contractor), Sullivan Eastern (site development), and Colliers International (leasing).
In the transaction, Larry Lakins, SIOR, along with Andrew Young, SIOR, Hunter Willard, SIOR, and Shields Liggett of the Colliers Raleigh Industrial Services team represented Welcome Group, while Doug Brock of Newmark represented the tenant.