Looks like City Market might have a new commerical property manager. The leasing signs changed from adam@citymarketraleigh.com to ‘Mikels and Jones’. This appears to have been very recent because the properties aren’t listed on their site yet.
I don’t think the property manager has been the issue, seems like it’s the owner.
They didn’t appear to have a person/group who’s sole job was property manager before, so we’ll see. Looking up Adam, he appears to be the GM of City Market and Market Hall.
Hiring a property management company is a step in the right direction for the owner. It shows that there may be some sense of intention to get these properties filled in. No doubt, there will be a lot more demand in this area once the Acorn, the hotel on Blount, and the boutique hotel in the parking lot behind City Market go up (negotiation permitting).
Sorry for the multiple posts, just looked a bit further into Mikels and Jones. Looks like they were the company that brokered the sale of the Creamery Building for 30 million back in 2020. Could potentially be a play to sell City Market? They are involved in both property leasing as well as property sales, so this is just speculation.
Properties with active leases are more likely to sell for more $, and I know that Loden and Northpond were in talks to acquire City Market per the Moore Square properties development with Loden.
Let’s wish that into existence…best thing that could happen to City Market would be a sale and Loden / Northpond SEEM like they’d be a good combo of local / larger market shepherds…
IMO, this is one of those areas that needs a special focus on retail from the city. Just imagine how great of an experience it could be and how valuable it would be for east side dt residents.
Another update. Looks like the blue building next to the pet store just got a tenant. Asked the guys with the ladders if they had any additional info. All they told me was that the tenant was officially moving in tomorrow. I did find it a bit curious this morning while walking by that there was no lease sign in front. Originally, I just assumed they were going to grab another sign to put in here.
I saw you taking the second picture this morning. Was wondering if it was someone from this board
Was this the exclusive pre-show meetup before the regular meetup tonight?!
It was only a matter of time. I walk around that area as much as anyone.
Another fun rabbit hole from the Olde Raleigh Instagram - the original City Market (and Metropolitan Hall)!
The address was 219 Fayetteville, but based on how it’s bracketed by the side streets (and one of them being named Market Plaza…) I’d put it here, where it’s been replaced by one of my favorite buildings on Fayetteville. Such a pretty little International Style gem, which is a rare style in Raleigh.
That is the right site. Seems to me the space above was city hall and court.
Mikels and Jones is just a real estate firm. They provide property management services as well as brokerage. I wouldn’t read too much into it
Anyone know what happened with this? Did it ever open? It’s listed as “Coming Soon” on downtownraleigh.org, but Google turns up nothing else about it.
It says “Coming Soon July-August” but notice they didn’t put what year that would be
For a long time, I saw a guy working on a laptop in there. Wondering what the hold-up could be. The El Toro directly across also set up branding then didn’t open too.
Plus the custom stationary place around the corner. It’s wedding central!
Looks like City Market is getting another tenant. A coffee/book shop.
https://www.instagram.com/p/CsovKsAPfyR/?igshid=MzRlODBiNWFlZA==
I hope it does better than the vermouth bar