Turnbridge Equities acquired the historic Creamery building in March 2020. The Property, which occupies a full city block, consists of consists of approximately 82,000 square feet of retail and commercial space in the thriving Glenwood South neighborhood of Downtown Raleigh, in addition to the quarter-acre 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 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. Turnbridge successfully rezoned the property to permit up to 40 stories of mixed-use development, obtained Raleigh Historic Development Commission design approval, and expects to commence construction in mid-2022 on a 250,000 square foot Trophy-quality office building, a 300-unit residential tower, and a 150-key boutique hotel.