Crescent Communities and Nuveen Real Estate acquire 120 acres in North Carolina

Crescent Communities has acquired 120 acres in Holly Springs, N.C., to develop as much as 2 million square feet of biomanufacturing, lab and office space within The Yield, a $500 million dynamic life sciences campus already under construction. This new acquisition was made in partnership with Nuveen Real Estate.

In its entirety, The Yield offers a wide range of options for small, mid-range and large biotech companies to create a space that fits their individual needs within a flexibly designed campus that can meet speed-to-market demands with future expansion opportunities in mind. Crescent Communities will begin to deliver multiple building options for tenants in the fourth quarter of 2022.

“Through this partnership with Nuveen, we are able to expand The Yield to a second phase and grow our life science presence in the Triangle to as much as 2 million square feet,” said Brendan Pierce, president of commercial at Crescent Communities. “This partnership reinforces