Grubb Ventures preps to grow Raleigh’s Dock 1053 campus with buy

Grubb Ventures embarks on a series of long-term land-banking commercial property deals in Raleigh NC, as part of a plan to revitalize a dormant area just blocks away from downtown.

Initially, it left a lot of people in town puzzled when Gordon Grubb bought the old Winn Dixie warehouse building on Whitaker Mill Road in Raleigh for $10 million.

What was Grubb’s plan behind this sizeable buy? If he just wanted to play in the warehouse space, he could find several other properties across town — at a much cheaper rate. Then, early this year, Grubb doubled down – dropping another $10 million to buy the former Peden Steel 19-acre warehouse campus across Atlantic Avenue.

Read: Grubb Ventures banking on turning more old warehouses into office, retail near downtown Raleigh

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