Raleigh Iron Works shows off local and global leasing synergy in new commercial revitalization project.
Raleigh Iron Works, aerial view

The steel mill buildings of Raleigh, N.C., had reached the end of their useful lives in the 1980s. These bare-bones structures, essentially just concrete floors and rough cladding, accomplished little more than keeping weather outside.

Seeing their potential, Raleigh-based developer Grubb Ventures LLC purchased the buildings in 2016 and inked a partnership with global real estate investment company Jamestown in 2019, resulting in a multiyear adaptive reuse conversion into a thriving innovation center and community hub.

Brasfield & Gorrie of Birmingham, Ala., began construction of the new Raleigh Iron Works project in 2021, adding two- and three-story structures to the site, while various phases continued through 2024.

When crews began the work of converting the old steel mill and warehouse structures into a new creative office and retail center, they were given strict instructions regarding the salvaged materials pulled from the aging structures.

Materials that appeared to be original were to be carefully placed in an untrammeled corner of the site, says Anthony Smithson, managing director with Grubb Ventures. “We were careful about not throwing anything away,” he says. In the completed property, those reclaimed materials are invested with new life as sculptural artwork, landscaping and signage. And there’s more to come: This project represents the 10-acre first phase of anticipated development.

We have very modern finishes and best-inclass execution, but we wanted to honor the original geometry in the final design.”

-Anthony Smithson, managing director of development and construction, Grubb Ventures LLC

Raleigh Iron Works, side view

Top Tenants

Swiss luxury watch brand Audemars Piguet, “eatertainment” concept Jaguar Bolera, Ponysaurus Brewing, Brodeto restaurant, an ice cream shop, yoga-barre studio, houseplant boutique and menswear store fill the site along with several office tenants.

The Details

  • Two Peden Steel mill buildings, Double Gable and Bow Truss, dating back to the late 1800s
  • Forge, a seven-story, new-construction multifamily structure with 219 apartments surrounded by a new streetscape environment
  • 71,000 square feet of retail, restaurant, fitness space
  • 170,000 square feet of Class A creative office space
  • Total project cost of $150 million
  • Lead designer and original architect S9 Architecture, New York City, and local architect of record LS3P

 

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