The debut of Crescent Communities unveils THE YIELD life science brand has been announced. Crescent Communities is a globally known and market-leading real estate investor, developer, and operator of mixed-use communities. THE YIELD delivers bio-manufacturing and lab space in markets that give strong access to life scientific talent, exceptional quality of life, and a friendly corporate climate. THE YIELD is dedicated to constructing highly amenitized, thoughtfully built campuses for the life science sector.
Here is Everything you need to know about Crescent Communities unveils THE YIELD, its New Lifesciences Brand
1. A Golden Opportunity
“We see THE YIELD as an opportunity to inject Crescent Communities’ commercial experience into an industry with substantial demand and opportunity,” said Brendan Pierce, President of Commercials at Crescent Communities. “We are convinced that businesses looking for stability, speed to market, and bio-manufacturing products in markets with both infrastructure and life science expertise will find THE YIELD to be well positioned to satisfy their firms’ demands,” said THE YIELD’s CEO.
Through the use of THE YIELD, Crescent Communities will utilize its extensive experience in master planning, seamless campus integration, and environmentally conscious building practices in order to provide its customers with the adaptable, cutting-edge bio-manufacturing and laboratory space that they require.
Crescent Communities unveils THE YIELD, with many potential buyers and renters expressing interest in the development.
THE YIELD will make it possible for Crescent Communities to extend its best-in-class reputation and industry experience in order to provide a high-quality product in markets that have a significant demand for bio-manufacturing facilities but a shortage of space that can change and grow along with rapidly evolving technological and business requirements.
In conjunction with this announcement, Crescent Communities is celebrating the completion of one year of work in the Holly Springs, North Carolina location. THE YIELD is in the process of establishing three separate life science campuses over its 230-acre footprint. These campuses will be placed in close proximity to industry heavyweights like Seqirus, Amgen, and FUJIFILM Diosynth.
The three projects will total 2 million square feet of space for bio-manufacturing and lab work, and they will involve an investment of more than one billion dollars. Of this total, 210 thousand square feet of cGMP bio-manufacturing will be finished, and an additional 316 thousand square feet will be built. Already in the works are plans to take THE YIELD to other highly coveted life science industries that are comparable in nature. Crescent Communities unveils THE YIELD to bring modern amenities to the historic neighborhood.
2. Continuing the Commitment
“These milestones are a reflection of our ongoing commitment to the life science platform,” said Chase Kerley, Managing Director at Crescent Communities. “We will continue to look for opportunities where there is a highly qualified talent pool, convenient location, proximity to several top-ranked research universities, and a reasonable cost of living,” he added. “These milestones are a reflection of our ongoing commitment to the life science platform.” In 2023 and beyond, “we look forward to growing THE YIELD into other areas with comparable attributes,”
3. THE YIELD Holly Springs
THE YIELD Holly Springs is a multi-phase life science venture that will include 150 acres and up to two million square feet of bio-manufacturing, office/lab, and retail space. It will be located in Holly Springs, North Carolina, in the center of the Triangle’s life science cluster. The location is important because the triangle contributes $9.8 billion to the gross regional product. It comprises 571 Life Science Companies, 67K Statewide Life science Workforce, and 4th highest concentration of PhDs. s
Last month, the first life science campus developed by Crescent Communities, known as THE YIELD Holly Springs Phase 1, was sold to a partnership consisting of Apollo Global Real Estate Management and GeneSuites. THE YIELD Holly Springs Phase 1 feature 210,000 square feet of bio-manufacturing space on 27 acres.
THE YIELD Holly Spring’s Flexible design, industry-leading ceiling heights, and bay depths provide multiple options—single-tenant, multi-tenant, or multi-story labs and offices with room to expand. To date, THE YIELD Holly Springs has received multiple awards “The Best Place to Live in NC” by Forbes in 2017, 2018, and 2019, “Best Cities in NC to get a Job” by Site Selection Magazine in 2020, and “5th Best Place in NC to raise a Family” by Business Facilities.
The second life science campus that Crescent Communities is developing, known as THE YIELD Holly Springs Phase 2, is a joint venture between Crescent Communities and Nuveen. This campus would cover the construction of 123 acres and will be intended for approximately one million square feet of bio-manufacturing, lab/office space, and campus amenities.
It will be located near current anchors such as Fujifilm Diosynth Biotechnologies and Seqirus. The construction of the project’s subsequent two bio-manufacturing buildings started at the end of the year 2022, and those buildings will be available for tenant up-fitting in the autumn. The buildings will be delivered at the end of the year 2023.
4. THE YIELD North
Additionally, the property deal for Crescent Communities’ third life sciences campus, known as THE YIELD North, was finalized in December of 2022. This campus is an assemblage of property along the US-1 corridor that spans 83 acres and has the capacity to house up to 850,000 square feet of space for bio-manufacturing in a variety of buildings ranging in size from 75,000 to 300,000 square feet.
THE YIELD North is located in the Friendship Innovation District in Holly Springs. The location is said to be in the heart of one of the fastest-growing regions of North Carolina. The YIELD North can directly access the highway US-1. It is located adjacent to Amgen’s new manufacturing facility in Friendship Innovation Park.
More generally speaking, Crescent Communities continues to experience significant growth with $7.2 billion of residential and commercial investments and developments that are currently under construction, operations, and planning. Crescent Communities unveils THE YIELD to a range of housing options to meet diverse needs.
These investments and developments include 15,300 units of multifamily and single-family build-to-rent, 58,000 square feet of complementary retail, and 7.5 million square feet of office, industrial, and life science space. Certifications such as LEED, NGBS (National Green Building Standard), Fitwel, and WELL are being pursued by the organization as part of its efforts to promote health and well-being as well as environmental sustainability. After Crescent Communities unveils THE YIELD it will have a positive impact on the local economy.
5. About Crescent Communities:
Crescent Communities is a nationally recognized, market-leading real estate investor, developer, and operator of mixed-use communities. We create high-quality, differentiated residential and commercial communities in many of the fastest-growing markets in the United States. Since 1963, our development portfolio has included more than 83 multifamily communities, 24 million square feet of commercial space, and 60 single-family master-planned communities.
Crescent Communities has offices in Charlotte, DC, Atlanta, Orlando, Nashville, Dallas, Denver, Phoenix, and Salt Lake City. Our residential communities are branded NOVEL, RENDER and HARMON by Crescent Communities and our industrial developments are branded AXIAL by Crescent Communities and our life science developments are branded THE YIELD by Crescent Communities.