Wylie Capital’s $55M project signals the region’s strategic pivot toward high-growth manufacturing

Johnston County, North Carolina—once defined by its agrarian past—is rapidly reshaping its economic identity. Long viewed as a quietly industrious region just southeast of the Research Triangle, the county now stands at the precipice of a critical transformation. At the center of this evolution is the proposed Clayton Commerce Center Project, a speculative industrial development that promises not just buildings, but a bold realignment of the region’s industrial future.

Set to be voted on by the county’s Board of Commissioners this coming Monday, the project outlines three large-scale industrial buildings totaling just under 383,000 square feet. It’s being developed by Wylie Capital, an Illinois-based firm that has steadily embedded itself into Johnston County’s commercial real estate fabric. With an expected price tag of $55 million, the project is more than a local development—it’s a reflection of how medium-sized American counties are adapting to the logistical demands of a reindustrialized U.S. economy.

The Developer’s Vision: Speculative, Strategic, and Site-Ready

Jason Simon, founder of Wylie Capital, makes no pretense about the speculative nature of the project. “We’re looking to build a speculative project to make sure that the much-needed supply is available for the significant demand in that area,” Simon explained in an interview with Triangle Business Journal. This is not risk for the sake of risk—it’s calculated anticipation.

Simon’s confidence in Johnston County echoes a broader national trend: developers moving ahead of the demand curve in markets adjacent to major metro regions, positioning industrial real estate in locations with access to highways, workforce, and—crucially—affordable land. The project will rise near Pony Farm Road and U.S. Highway 70 Business, a corridor increasingly viewed as a strategic node in North Carolina’s growing logistics and manufacturing sectors.

Spanning 34 acres, the Clayton Commerce Center will feature three buildings, the largest of which—at 221,761 square feet—will be initially leased by the county government itself. The other two, each under 100,000 square feet, offer flexible warehouse and manufacturing configurations designed to appeal to mid-sized manufacturers, advanced logistics firms, and regional supply chain operators.

The County’s Incentives: Catalysts, Not Handouts

In a move that reflects a deepening public-private partnership model, the county government is offering Wylie Capital a 50 percent real estate tax reduction for five years, in addition to leasing the largest building at the outset. These incentives are not mere subsidies—they’re tactical levers designed to overcome a persistent bottleneck in regional growth: the lack of ready-to-go industrial facilities.

Chris Johnson, Johnston County’s economic development director, emphasized the urgency of increasing the county’s building stock. “Just this year alone, we have not been able to respond to nearly 25 RFIs [Requests for Information] from the state just because of lack of facilities and product,” Johnson said.

This gap in inventory is not just a local issue—it’s systemic. Across the southeastern United States, industrial demand has outpaced speculative development in secondary markets. As a result, communities like Johnston County are evolving their economic development strategies from reactive to preemptive, aiming to secure the physical infrastructure before the next wave of industrial suitors arrives.

Strategic Context: Clayton’s Rise in the Wake of Novo Nordisk

The timing of the Clayton Commerce Center Project is no accident. In 2024, the county capped off a banner year when Danish pharmaceutical giant Novo Nordisk announced a $4.1 billion expansion to its existing facility in Clayton—one of the largest life sciences investments in North Carolina’s history.

That headline-making investment not only boosted the county’s visibility—it recalibrated its industrial expectations. No longer merely a residential spillover zone for Raleigh, Johnston County is emerging as a serious contender in advanced manufacturing, life sciences, and next-generation logistics.

But with great opportunity comes heightened demand. As Johnson notes, the county’s aim is no longer just to attract volume—it’s to curate quality. “We’re really trying to fine-tune our recruitment to target the manufacturing sector, which tends to provide higher-paying jobs,” Johnson said. That emphasis on higher-skilled, longer-term industrial tenants underpins the design philosophy of the Clayton Commerce Center.

Unlike cross-dock distribution hubs—often built for speed and turnover—the buildings in this project will be tailored for manufacturing operations. Expect robust power infrastructure, clear height ceilings, and layouts that can support assembly lines, cleanrooms, or advanced equipment installations. This is not disposable space—it’s industrial permanence.

Wylie Capital’s Local Momentum

While Wylie Capital may be based in Illinois, its roots in Johnston County are deepening quickly. In August 2023, the firm purchased just under 16 acres adjacent to the Clayton Commerce Center site, only to flip it shortly after to Knapheide, a leading truck equipment company. That deal alone will result in a new 100,000-square-foot facility, underscoring Wylie’s capacity to catalyze long-term industrial tenants through land assembly and development vision.

The firm’s method appears to be one of patient acceleration: identify zones of opportunity, prepare the groundwork, and trust that the demand will come—because in most cases, it already exists.

The Broader Arc: Johnston County and the New Industrial South

The Clayton Commerce Center is not just a county development—it’s a case study in the new Industrial South. Once defined by textiles and tobacco, this region is now a magnet for biotech, electric vehicles, aerospace components, and warehousing logistics. Counties like Johnston, Nash, and Harnett are absorbing the overflow from Wake and Durham, offering cost-effective space with regional access and skilled labor pipelines.

The southeastern shift in American manufacturing isn’t just about geography—it’s about governance. Business-friendly regulation, strategic state incentives, and infrastructure investment have made counties like Johnston ideal for companies trying to escape the overburdened real estate landscapes of urban metros.

Projects like Clayton Commerce Center play directly into this recalibration. They’re not speculative in the abstract—they’re speculative in the way that all intelligent infrastructure must be: they build for the need not yet met but already approaching.

Impression

In an era when industrial development is increasingly driven by speed-to-market and geographic advantage, Johnston County is learning to play offense. The Clayton Commerce Center Project is more than square footage. It is a wager on the future—a bet that if you build well and build early, the economy will come.

For Wylie Capital, this development is a continuation of a growing commitment to the region. For Johnston County, it’s an invitation—to new businesses, better jobs, and a more dynamic economic identity.

As the Board of Commissioners prepares to vote, the implications stretch far beyond a zoning approval. They signal whether Johnston County is ready to not just host growth—but shape it.

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