CBRE to Market Retail Portion of The Creamery in Downtown Raleigh

CBRE has been awarded the leasing assignment for all retail space at The Creamery, a new mixed-use development in Downtown Raleigh, North Carolina. At full build-out, the project will include luxury apartments, Class “A” office space, and high-profile retail space. The historic Pine Street Creamery building will remain, creating a unique combination of authentic retail and newly constructed retail space across two levels.

Charlie Coyne and Matt Larson of CBRE in Raleigh will market the project’s retail space for lease on behalf of developer Turnbridge Equities. Construction on the residential tower is expected to begin in early 2025, while CBRE has immediate retail shop and anchor opportunities in the historic building.

“We are excited to work with CBRE to attract new retail, food and beverage, and entertainment tenants that will help continue the growth and maturation of Glenwood South’s incredible energy,” said Jason Davis, Managing Director at Turnbridge Equities. “The Creamery will be a true anchor for Glenwood South.”

Located at 410 Glenwood Ave., The Creamery was established in 1928 and remains a Raleigh landmark with its iconic butter churn standing above the corner of Glenwood Avenue and Tucker Street. It was designated as a historic landmark in 1997 and will remain as the cornerstone of the new mixed-use project. In addition to the 24,000 sq. ft. of existing retail space that the original Creamery building already holds, Turnbridge Equities is planning to build another 17,400 sq. ft. of retail space as a part of the redevelopment. The historic Creamery also includes a floor of existing office space fronting Glenwood Avenue that could be converted into approximately 25,000 sq. ft. of retail anchor space.

“As we have done across Turnbridge’s portfolio, we will target select local and leading new-to-market national tenants to The Creamery,” added Andrew Joblon, Founder and Co-Managing Principal at Turnbridge Equities. “We continue to field significant interest about expanding into the Carolinas and specifically Raleigh-Durham given its superb demographics, across our retail relationships.”

Two new towers will also headline the project. Highline Glenwood will be a 306-unit high-rise luxury apartment complex that is expected to break ground around year-end, while 404 Glenwood at The Creamery will include up to 280,000 sq. ft. of Class A office space. The development will also include a one-half-acre public plaza and a public parking garage.