A New York developer behind a major development in Cary has bought a historical building in downtown Raleigh with plans for renovations and future development.
New York City-based Turnbridge Equities paid $34.7 million for the nearly-century-old Creamery building and two adjacent parcels in downtown Raleigh’s Glenwood South neighborhood earlier this week. The seller was Chicago-based Northpond Partners.
Altogether, the portfolio features 3.3 acres at 400 and 410 Glenwood Ave. and 501 N. West St. and includes the old Creamery building, a 2-story mixed-use building that dates back to the 1920s.
You can read more about the sale here