324 Dupont Circle

I don’t think there is much to say right now, but someone just bought the 324 Dupont Circle property for twice its assessed value (according to iMaps the assessed value was $1,062,883). This is located directly beside the Platform development. Could this be a property to watch for future redevelopment??



This is the Boulted Bread building, right? Hoping it’s to be a landlord, not tear it down.

Looks like the building next to the warehouse that’s been renovated for Boulted, etc

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Oh I see that on google maps now. OK, well hopefully it’s just that building then. They can do whatever they’d like with that ugly thing. LOL

If it was purchased for twice the assessed value, I’d put money on redevelopment being imminent.

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It’s a separate building but they seem to be attached to each other or at least so close you can’t tell they’re separate. I imagine it would be an undertaking to remove this one and preserve Boulted’s building.

Does anyone have a TBJ subscription to see if the article has more info?

This warehouse has a barrel truss roof, which is pretty attractive as far as warehouses go. Could be a really cool space with the right concept.


And of course the article helpfully reminds dear readers that this part of downtown hasn’t had all the reports of crime that other parts have experienced.


That’s a spectacular amount of money for that property. I just checked on iMaps and it’s a quarter acre. I am not sure that I’d pay $2M+ for a piece of property when I know that the NIMBYs next door will do everything in their power to prevent me from rezoning to make it profitable long term.

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Looks like Vic and his wife (owners of Raleigh Denim) were the owners! I am now remembering when they bought the building, and there was speculation that it meant they’d be moving operations to the Dupont warehouse from Martin St - but that must not be the case any more! I must assume they own their current building, as well, then. Hell, they’ve been posting all the pics of Jake Gyllenhaal wearing their jeans in all these promo videos and photos from the new Road House. They definitely have the money haha


I’m starting to wonder if this area has gotten ahead of itself. All the units in the Platform are still available for rent, Mira will be coming online soon, Capital Square, Rockway, Acorn…

There will be literally thousands of units all hitting the market within 12-18 months of each other, none of the retail is opened yet… and they’re asking $2-5k in rent, which is a range that limits the number of potential tenants.

The scary part (to me) is the established buildings - Dillon, 511 Faye, etc - also have a good amount of availability and are offering new lease discounts/bonuses. The L doesn’t show their availability online, but I’d imagine it’s more of the same.


The established buildings need to start getting in contact with national/state fast food and restaurant chains or other retail chains… if they haven’t already. They could use the growth or projected growth of their neighborhoods as proof that the companies would making a good investment.

Places I’d like to see:

Urban Cookout (L Building)
Tropical Smoothie (Dillon) :man_shrugging:t4:


Unless I catch it first. Nice trick.

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I agree on national retailers/brands. A mix is best, but sometimes new developments try to over-index on local. We have plenty of vacant space for both; no reason to discourage chains, especially when they could drive traffic to adjacent local businesses. A few off the top of my mind:

Patagonia: my personal #1 and they would fit perfectly in this space on DuPont circle. They only move into spaces with history/character. Disappointing they sold out in charlotte and opened in south end instead of somewhere cooler. Raleigh is on their radar, but the right space has to be there.

Nando’s Peri-Peri: South African fast-casual chicken chain from DC. They are expanding fast around the country and opened in Virginia Beach over the last couple years. Only a matter of time before they come here and they like partnering with Hyatt. Don’t be surprised to hear Nando’s at Seabord Station.

Taste Unlimited: a hampton roads/VA chain with about a dozen locations; gourmet sandwiches, salads MTO, and a large market with premade foods and beverages and cooking supplies. Every time I go I think how a location anywhere in Raleigh would probably gross more than their top store in VB today. I feel very strongly and if you’ve been, lmk if you agree. Would love this or someone to clone the concept here.

Dave’s Hot Chicken: announced coming to the triangle but no further details. Expanding all over the country, so this should be easy. I think Holly Springs is the first in our area.

Potbelly: Oven-toasted sandwiches, salads, soups. Randomly one in Morrisville but would crush downtown and elsewhere.

Chipotle: we should have a downtown chipotle by now even with Hillsborough not far. We can support both.

Starbucks Reserve Roastery: even the Starbucks haters might find it impressive. The original in Seattle opened about 8 years ago and it’s pretty neat. Large roastery with a bar, special menu offerings, and a large merch section. Could occupy a prominent corner, and Starbucks can afford the rent.


How is this scary hahaha - it should hopefully equate to reduced average rental rates citywide!


The only scary part is that it could start to limit the development of residential units downtown. On the flip side, maybe it will actually bring development of non luxury housing. I like a nice place, but don’t necessarily need an on-site gym, pool, broken pool table, or anything similar. Living downtown, a gym shouldn’t be too far away. There’s pools around.


A paraphrased summary of any interesting info besides what’s available above the fold would have been sufficient. Thanks for trying, though! :laughing:


Nando is dank Jones! I always hit it up when in DC or Chicago. Begging for a NC location.

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Hah I meant scary along the lines of what post-2008 looked like from an economic/building perspective (not trying to draw parallels, it’s just weird how empty they all are/will be).

The apartments will absolutely lease, but if they sit idle for a long time in today’s rate environment - leveraged developers could be in major trouble.

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Boo hoo - HAHA jk, kinda. There will always be more where those came from to keep building in the city.

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