Turnbridge Equities acquired the historic Creamery building in March 2020. The Property, which occupies a full city block, consists of consists of approximately 48,000 square feet of retail and commercial space in the thriving Glenwood South neighborhood of Downtown Raleigh, along with over 24,000 square feet of Class A office space, and ten loft apartment units, in addition to the 10,000-square foot surface parking lot at 501 North West Street. The Property is fully leased to diverse group of tenants, providing strong in-place cash flow while Turnbridge prepares for a strategic renovation and repositioning of the Creamery and the potential development of under-utilized portions of the Property. The Property is located within the path of growth from the central business district into Glenwood South, which is home to several prominent new developments that will bring even stronger amenities, along with a greater daytime and residential population, to one of Raleigh’s most vibrant and authentic neighborhoods.

Raleigh, NC: The Creamery

Address

400-410 Glenwood Avenue, Raleigh, NC

Submarket

Raleigh

Size

82,000 RSF

Type

Mixed-Use

Date Acquired

March 2020