707 Semart Drive

Turnbridge Equities acquired 707 Semart Drive, consisting of a popular local garden shop on 2.9 acres in December 2021. The investment was purchased off-market in a highly-negotiated transaction with the owner-occupant that includes a three-year sale leaseback. Following the leaseback, Turnbridge believes there is significant upside in developing the 2.9-acre site, which is located within Seaboard Station, a neighborhood that is currently undergoing a $300 million redevelopment that will deliver over 600 residences, 130,000 square feet of street-level retail, local chef-driven restaurants, entertainment concepts, and a hotel. Turnbridge’s redevelopment of 707 Semart Drive will further contribute to the revitalization of Seaboard Station as a walkable, mixed-use district.

707 Semart Drive
Raleigh, NC
Seaboard Station
Asset Class
Covered Land, Mixed-Use
2.9 acres
Date Acquired
December 2021
Date Sold
Currently owned by Turnbridge