🏢 Top Five 26.25
👋Welcome to the Top Five, a weekly newsletter by Jed Byrne that demystifies Raleigh development. If a friend sent you this email, you can subscribe below!
Good morning!
Vending Machines
Are vending machines a sector of CRE? They facilitate commerce, are physical locations, and typically have a lease or rev-share agreement in place. I’d vote yes.
The question came up as I checked out a Bear Spray (yes, that’s pepper spray for bears) vending machine in Wyoming last week. No that’s not why I made the trip, but I thought it was interesting non-the-less.
That leads to the next logical question.
What kind of vending machines do you wish existed in Raleigh?
Best Regards,
Jed Byrne
Oak City CRE, LLC
On to the Top Five! ⤵️
1) DTR DGX Replacement: The former DGX location in DTR (Downtown Raleigh) will be replaced by Wolfside Urban Market.
2) Fear & Greed: The latest national Fear & Greed Index dropped a point to 56/100, marking a still expanding market.
3) Granite Grill: From the team behind Tazza in Village District, Granite Grill is coming to Glenlake in West Raleigh.
4) Big Box to Big Games: Level99, a 40Ksf playground for adults is taking over the men’s Belk Store Space at Crabtree Valley Mall.
5) 301 Hillsborough Street: 301 Hillsborough Street is for sale. The home of Pendo, AKA Raleigh Crossing, originally opened in 2022. It’s 87% occupied with a WALT (Weighted Average Lease Term) of 7.1 years. WALT is a weighted average of the remaining lease term by value of the lease.
