Jamestown and Raleigh-based developer Grubb Ventures have landed the first lease agreement at Raleigh Iron Works, a mixed-use innovation hub set to open later this year in Raleigh, NC. Sports, music and marketing agency Wasserman is taking 14,000 square feet in the Double Gable Building.

CBRE represented Raleigh Iron Works in the deal.

The first phase of Raleigh Iron Works, valued at more than $150 million, includes 184,000 square feet of office space, 65,000 square feet of retail space, and 219 rental apartments. Development involves renovation of historic steel mills and warehouses that were once part of Peden Steel, as well as the construction of a new, seven-story multi-family building. The historic buildings – the Double Gable Building and Bow Truss Building – are being repurposed into creative office and retail spaces. The new residential building – The Forge at Raleigh Iron Works – will be a culmination of modern industrial living with the textures of historic Raleigh.

Photo: Courtesy Raleigh Iron Works