Abandoned box stores in Triangle get new life as high-tech labs

Abandoned big box stores are becoming hubs for high-tech businesses looking to grow in the Triangle. A vacant K-mart on Fayetteville Road in Garner has been abandoned for roughly a decade – padlocked and the victim of vandalism.

Now, developers are finding ways to transform vacant big box stores like this K-mart into lab space that's in high demand in the life sciences industry.

Boston, San Francisco, and San Diego dominate real estate for the life sciences industry, but a recent report shows the Triangle area is one of three rapidly rising markets, meaning these kinds of projects are becoming a growing trend in the Triangle.

A closed Kroger on Six Forks Road in Raleigh will soon be transformed into the Midtown BioCenter. A former Sam's Club in Morrisville is being redeveloped into a hub for high-tech companies.

And the abandoned K-Mart in Garner, though the 'big K' on its storefront has long since faded away, will soon have a new set of initials: INQ.

John MacDonnell runs a company called JLL that helps convert and redevelop these box stores. This newest redevelopment, he says, will become a big box for life science companies.

"It’s essentially a blank slate they can just slide into," he said. "It’s a great sort of fix for each other, because one is sort of on the way out, but it provides the fundamentals these new companies are after."

The latest Life Sciences Trend report from CBRE real estate shows companies are looking for 897,000 square feet of lab space in the Triangle. Demand is up nearly 7% in 6 months.

On top of that, the Triangle area is affordable, according to the Life Sciences Outlook. Our region has the second lowest rent out of the top 12 markets.

"It lends itself to biomanufacturing, because the spaces are so big, they’re flexible with what you can repurpose them to do, easy to modify," said Mary Hecht-Kissell, NC Biotech Director Of Business Development "We have the talent, the training infrastructure, the lower operating costs - all of those great things."

That's what the town of Garner hopes will make its first big life sciences project a success.

"We’re really excited about the opportunity of bringing new life into this space, putting it back to productive use, and helping generate new jobs and investment in our community," said Garner's economic development director Joe Stallings.

Soon, the reminders of the old K-Mart's retail years will vanish from the big box – replaced with state-of-the-art labs.

Work should get underway on this project in April, with it ready to open by late summer.