by William Needham Finley IV™

Development Beat: Five Points Storage Facility Moves Forward Despite Backlash, Transfer Co. Receives Permits

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Brought to you by Rufty-Peedin Design Builders.

Week of March 6, 2017

Transfer Co. receives permits for redevelopment of Stone’s Warehouse

Five Points storage unit project moving forward on Sunrise Ave.

Plans unveiled for Raleigh’s second Lidl grocery store

New apartments planned for Southeast Raleigh

Transfer Co. Receives Permits
More than two years after the City of Raleigh awarded a contract for the sale and redevelopment of the old Stone’s Warehouse space at 500 East Davie Street, permits have been issued for the property’s redevelopment. The downtown Raleigh development, officially known as Transfer Company, bills itself as a “food production hall, market, and gathering place” that will include a range of retailers and more than a dozen townhomes.

The old Stone’s Warehouse

On February 3, the Transfer Development Company officially signed the $2 million+ deed for the 87,791 SF property. The company, a consortium spearheaded by Monarch Properties’ Jason Queen, will eventually transform the one-time Carolina Coach Garage and Shop into a mixed-use development featuring town homes, restaurants, and retail.

Tenants announced thus far include the Videri Chocolate Factory, Boulted Bread, and Local Seafood. Queen told us that “other tenants have asked to wait and let them announce when ready.” An online listing for the property includes 20 available spaces for lease, ranging from a 5,048 square-foot anchor restaurant space with “rooftop seating and great skyline views” to a 70 SF kiosk space within the property’s “food hall.” According to plans filed with the City, the Food/Community Hall will occupy 6,590 of the building’s total 42,800 square feet.

The Food Hall

On March 1, less than a month after Transfer officially acquired the property, four permits were issued to C.T. Wilson Construction allowing work to begin on expanding the main warehouse space from 26,902-square-feet to 42,000 square feet, a renovation of the existing storage building, and new plaza and mezzanine areas. Queen said they hope to open in the summer of 2018.

Real Estate Report

William Needham Finley IV wanted me to share his success at being a “real estate tycoon” in this week’s real estate report. A house from Ryan Boone Real Estate that was recently listed in the Development Beat went under contract in three days. Finley swears he had everything to do with this, although the prime location on Wade Avenue and listing price of under $300,000 may have had something to do with how fast it went under contract.

To feature listings here, contact for options.

Five Points Mini Storage Receives Permits Amid Neighborhood Backlash
Five Points Mini Storage, a five-story 83,411 square-foot storage facility will go up at 1515 Sunrise Avenue. The project is being built out by 10 Federal Construction, a division of the development group 10 Federal, that owns the property. According to Finley, Five Points residents are NOT happy about this. One of his sources from the neighborhood had this to say, “A five-story storage unit facility snuck in the approval two days before the new UDO changed, which would have limited it to three stories. The City can’t do anything about it and the neighbors are livid. We’re going to have a five story tower in the middle of Five Points.”

It’s possible that 10 Federal assumed the project needed to be five stories since it is located in Five Points. We’ll keep an eye on this, but hope that residents deal with this better than they did with the recent warm weather.

A Rendering of the Storage Facility, As Described by a Five Points Resident

With Your Permit-ssion

Double Trouble
Permits were issued last week for not one, but two storage unit projects. And neither of them are getting built by our friends, and expert self-storage builders, Rufty-Peedin. The horror.

Aside from the aforementioned Five Points Mini Storage building, the second project is actually the second phase of the Millbrook Self Storage development at 2013 E. Millbrook Drive. The new three-story, 43,682 square-foot storage building will be constructed by Imperial Design Builders.

I’d Buy That for a Dollar
Dollar stores, which outside of storage units appear to be the most common project type in this great city of ours, also had a banner week last week, as renovations to the Dollar Tree at 6234 Glenwood Avenue were permitted right alongside a retaining wall for a brand-new Family Dollar at 1730 Trawick Avenue. The Dollar Tree renovations will be handled by Titan Contractors. Wimco will be building the Family Dollar’s retaining wall.

Southeast Raleigh Spice
Things are heating up at Farmington Square, a Southeast Raleigh shopping center that will soon be welcoming the new restaurant Caribbean Spice. Located on New Birch Drive just off Rock Quarry Road, work on the 1,550 SF Caribbean Spice will be handled by Imperial Design Build.

Put a Lidl on It: Second Raleigh Location Unveiled

The new Lidl store will likely resemble its European counterpart

Lidl, the German discount grocer chain that broke ground last month on its first North Carolina location on Wake Forest Road in North Raleigh, filed plans for a second location in the City of Oaks.

The new 35,962 SF grocery store would be built at 4115 Buffaloe Road at the intersection with North New Hope. Details are sparse at this point, and representatives from Lidl once again did not respond to any inquiries. What we can tell you is that the store will boast 180 parking spaces and stand nearly 30 feet tall. Because those are the kind of details you *need* to know about a new grocery store.

Site plans for the new Lidl on Buffaloe Road

As we mentioned in our earlier write-up of the Wake Forest location: we’re not even sure what the product lineup at one of these places will be like. A higher-end Aldi, perhaps. Judging by some photos of the chain’s European locations, the aesthetic appears to fall somewhere between Ollie’s Discount Warehouse and the grocery section at Target.

So we’ll definitely be checking this place out. Besides, any store than hails from the Land of Chocolate probably has a heck of a dessert selection.

Apartments Planned for Southeast Raleigh

Quarry Trace, a new three-story, 96-unit apartment complex could be coming soon to the intersection of Rock Quarry and Barwell Roads in Southeast Raleigh. The multifamily development would be built out on a triangle-shaped, 8.43 acre parcel of land just south of Barwell Elementary.

The land was acquired by a subsidiary of the Taft Development Group in December 2016, and Taft is listed as the developer on site plans filed with the City. Taft, which has built a number of apartment complexes throughout North Carolina, developed the 401 Oberlin Apartments in Cameron Village and the Hammond Road Business Park. We imagine our readers are more familiar with 401 Oberlin.

401 Oberlin

As for the Quarry Trace: the three-story, 121,509 SF building will stand 43 feet tall and be accompanied by 222 parking spaces. The 96 units will be broken down as follows: 12 one-bedrooms, 60 two-bedrooms and 24 three-bedrooms.

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