Sold for $10M: Peden Steel property near Dock 1053 warehouse campus

Peden Steel property near Dock 1053 warehouse campus was sold to Grubb Ventures for $10M in an early 2017 commercial real estate deal.

When Raleigh real estate developer Gordon Grubb bought the old Winn Dixie warehouse building on Whitaker Mill Road in Raleigh in 2014, a lot of people were scratching their heads and wondering why. Fast forward two years and the $10 million redevelopment of that 185,000-square-foot warehouse into the Dock 1053 campus, about two miles north of the downtown district, has a lot more people now wondering why not.

The warehouse, now split into multiple smaller suites, has become a hit among artists, crafters, entrepreneurs and small business owners seeking something different – and a little cheaper – than what’s available in downtown. Its tenant mix includes Lynnwood Brewing Concern, Pinetop Distillery, the Loading Dock collaborative work space, Trig Modern and Glas, a neon art studio by Nate Sheaffer. The project also received a 2017 Space Awards honorable mention for top redevelopment project.

Article courtesy of the Triangle Business Journal. Click here to read it, or view it in PDF format.