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Bits and Pieces

Rendering courtesy of Foundry Commercial.

Garner Industrial Park is expecting heavy demand.  This demand is driving up prices for industrial space.  Phase I plans for Eagle Crest Park will provide over 353,000 square feet in the two initial buildings.  RWN Real Estate Partners Llc., based in New York along with Bagwell Properties Inc. (Raleigh) are targeting the fall of 2022 to wrap up Phase I.  Bagwell has been sitting on this property since approximately the turn of the century.  Located at 4100 and 4300 Auburn Church Road in Garner the industrial park is comprised of 93.8 acres.   Our friends at Foundry Commercial will handle the leasing.  Further phases are being discussed now.   Industrial developers have been hard at work as this category of commercial real estate continues to flourish.  

Player’s Retreat is reopening!

Rest easy NC State fans as the iconic Player’s Retreat Sports Bar is reopening!  Gus Gusler, owner, shut it down at the very start of the pandemic… March 2020.  Spending most of the pandemic at the coast, Gus has returned and intends to reopen the legendary diner/sports bar with some restrictions to protect diners and staff.  Indicating that the early results have been outstanding, Gus hopes that his policy of indoor dining for vaccinated patrons and outdoor dining for those not vaccinated will allow him to feed everyone!  While prices have had to increase slightly due to the new economy we find ourselves in, diners have been pouring back through the doors!  Welcome back, Gus!  Raleigh residents are thrilled!  Go catch the Wolf Pack on one of the tvs and grab a bite.

White Oaks Properties of Raleigh has been making a dent in the multifamily market lately and that trend is continuing.  In Durham (Durm).  Site plans have been filed for Yancey Street Condos, forty-four new condos in Downtown Durham.  They will be located at the corner of Yancey and 600 S. Duke Street – directly across from Cortland Bull City apartments.  One Million dollars is what White Oak paid for the property in 2019.   Have you seen the CityLift system for parking and retrieving your car?  You swipe a card and your car is delivered to you!!  You MAY see that here.  Stay tuned!  As Elmer Fudd used to say, “That’s All Folks!”  But wait, Elmer is wrong.  White Oak, in partnership with our friends at CityPlat of Raleigh have filed plans for Kress Condos!  Six stories of mixed use with retail, 26 condos and that CityLift parking system!  Meanwhile these same two companies have plans for a Glenwood South project featuring 16 townhomes!  Where?  405 N. Boylan St.

Rezoning requested by Bell Investments of Raleigh.  Where?  Good question… 35.8 acres of land just outside the beltline near the site of the Downtown South development.  Between Hammond Road and South Wilmington Street.  This large apartment complex would feature nearly 350 apartments at 100 Knowles Street.  The Downtown South project is huge and the developers have indicated that they intend to break ground prior to the end of 2021. 70 Acre project.  650 residential units.  Eight stories tall encompassing a community green space.  90,000 square feet of retail.  Hotel rooms totaling 150.  270,000 square feet of office.  What am I talking about?  The next phase of the Glen Lennox community in beautiful Chapel Hill, NC! Grubb, a Charlotte based developer is bringing this redevelopment to life!!  Phase II making up 18 acres of the historic shopping center! 

Peter Kima

President, Kima Commercial

Peter@KimaCommercial.com

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