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Week of September 25, 2017
Marbles is expanding
Gordon Grubb buys more property on Atlantic
Shelton’s Furniture is closing near Five Points
New tenant for Morgan Street Food Hall
StateView Hotel to open soon on Centennial Campus
Work begins on Wahlburgers
Movie trailers for FNB Tower and StateView Hotel
Marbles Buys Land Next Door
Marbles Museum will soon be able to offer an even wider array of experiences to its visitors, thanks to a recent purchase of the adjacent property at 207 East Hargett Street. The two-story, 15,658 sq ft building was built in 1950 and previously owned by the Longleaf School of the Arts. Marbles purchased the building from MDO Holdings for $3.1 million. We’ve been told that Owner and CEO, Michael Olander, Jr., passed up multiple opportunities for more lucrative buyers, so we’re assuming he and the folks at MDO Holdings probably received free lifetime IMAX passes as part of the deal. Marbles has said that new construction will likely not begin until 2020.
Expansion Continues Near Dock 1053
In January, we reported that Gordon Grubb, who developed the Dock 1053 project on Whitaker Mill Road, had purchased an adjacent 19-acre site at the intersection of Atlantic and Whitaker Mill known as Peden Steel. But wait, there’s more.
Wake County real estate records indicate that a subsidiary of Grubb Ventures recently purchased another nearby property for about $5.5 million: the 4.64 acre site at 2315 Atlantic Avenue.
The site is now home to a 127,875 square-foot warehouse built in 1973. Grubb Ventures has not yet announced its formal plans for the site, but we imagine its redevelopment will line up nicely with their plans to revitalize the Atlantic Avenue corridor. When Grubb purchased the Peden Steel property in January for $10 million they announced plans to develop a project similar to Dock 1053, which houses a brewery, a distillery, a neon art studio, and more.
Shelton’s Furniture Is Gone Again And So Is Its Old Building
Earlier this year, Shelton’s Furniture, a beloved Raleigh furniture store, moved from its location on West Morgan Street to make way for a new 150-room hotel and parking deck. Shelton’s found a home in Clayton, but realized ITB residents wouldn’t drive that far for furniture. So on June 1st, Shelton’s returned ITB and moved to a spot near Five Points on Bickett Boulevard. Sadly, it was announced last week that they would be going out of business.
Friend of the media empire, Ashton Smith, grabbed a picture of the demolition at the West Morgan spot last week.
Demo work starting on the Shelton's space. Warehouse District construction continues. 🏗🔨🏢 pic.twitter.com/YuvjMZKAue
— Ashton Smith (@ashtonmae) September 18, 2017
FNB Tower Video
Commercial real estate is so hot right now. So hot, in fact, that new buildings require their own movie trailers. A few months after announcing plans to open a new headquarters in downtown Raleigh, First National Bank has released a video rendering (movie trailer) of the new 22-story residential and office development. Located at 501 Fayetteville Street, the 22-story FNB Tower will sit adjacent to City Plaza, and offer more than 150,00 square feet of Class-A office space, 240 residential units and street-level retail. First National itself will occupy about 40,000 square feet of that Class-A office space.
Hook & Cleaver Coming to Morgan Street Food Hall
The latest tenant for downtown’s Morgan Street Food Hall & Market has been announced, and they’re coming to us all the way from Fuquay-Varina. Hook & Cleaver on Morgan will feature seafood, fresh meats, and prepared foods. This will be the second location of owner Joseph Fasy’s popular restaurant, which got its start in downtown Fuquay in 2015.
The new location will be joined by more than 60 dining and retail outlets, which Morgan Street’s owners, Hibernian Hospitality, promise will offer a range of “high-quality, chef-driven specialty foods.” The Morgan Street Food Hall now has commitments from about 35 restaurants and other vendors. Originally set to open this summer, Hibernian announced last week that Morgan Street will be opening in early 2018.
Set to open next month on NC State’s Centennial Campus, Marriott’s StateView Hotel will be accompanied by a five-story parking garage. W.M. Jordan, the project’s general contractor, will handle construction of the 117,940 square-foot parking garage. Interestingly enough, the permits we saw also describe the garage as a “park and ride” location for the State Farmers Market, which is about a mile from the new hotel.
The StateView Hotel is part of the Marriott Autograph Hotel collection: independent hotels that utilize the Marriott Branding. You can check out one of the most over-the-top movie trailers for a hotel we’ve ever seen. Be sure to turn the volume on, as it sounds like you’re about to ride into the battle of the bastards as you tour the lobby, pool terrace, and other parts of the hotel.
Work Now Underway on Wahlburgers
Just one week after local restaurateur Zack Medford challenged superstar Mark Wahlberg to a burger cook-off contest, contractors were given the go-ahead to begin work on the newest location of the actor’s popular burger chain Wahlburgers.
Permits for this particular project had been in limbo since early May. According to the permits, the 3,680 square-foot restaurant will be allowed a maximum occupancy of 103 people at any given time, although it is unknown how many of those 103 will be members of the Wahlberg family. Wahlburgers will operate on Fayetteville Street in the former home of The Oxford.
NY Bagels Coming to Shoppes of Greenway
The Shoppes at Greenway on Ramble Way in North Raleigh will soon be adding a bagel shop to their mix of offerings, as permits were issued last week for a $28,000 fit-out for NY Bagels. Although we were unable to confirm whether this new shop is associated with Raleigh’s best bagel spot, NY Bagels & Deli, the name does give hope that Raleigh residents will soon have greater access to bagels made the New York way.