News Summary
The Transfer Co. Food Hall in Raleigh is now for sale, appraised at approximately $4.14 million. It features nine food vendors and various community spaces, making it a prominent location in downtown Raleigh since its opening in 2018. The property, developed from a historic bus garage, has drawn interest with its mix of culinary offerings and community amenities. Owner Jason Queen plans to focus on urban development projects after the sale.
Raleigh Food Hall Listed for Sale with Appraised Value of $4.14 Million
Raleigh, North Carolina — Transfer Co. Food Hall, a popular dining and gathering spot located at 500 E. Davie St., is now listed for sale, with an appraised value of approximately $4.14 million. The property has been a staple in downtown Raleigh since its opening in late 2018 and was developed from a historic former bus garage built in the 1920s.
Property Details and Features
The food hall spans a significant area in downtown Raleigh, offering a diverse mix of tenants, dining spaces, and community gathering areas. It includes a bar and houses nine distinct food vendors: Mama Crow’s, Benchwarmers Bagels, Alimentari at Left Bank, Captain Cookie and the Milk Man, Dank Burrito, Yatai, Che Empanadas, Chhote’s, and Bul Box. Additionally, Asheville’s Burial Beer Co. maintains its own entrance and presence within the property, adding to the venue’s unique offerings.
The site also features spaces meant for social and community activities, such as a ballroom, loft, outdoor patio, and lift bay. These amenities make the property not just a food marketplace but also a hotspot for events and public gatherings.
Development History and Market Context
The transformation of the property from the old Stone’s Warehouse into a modern food hall was a multi-year project that began well before its opening in 2018. The development aimed to preserve historical architecture while creating a vibrant culinary and social hub for downtown Raleigh.
Since its launch, the food hall concept has gained traction across the Triangle region. It follows the success of other notable venues such as Morgan Street Food Hall, which set a precedent for combining varied culinary offerings in one location, and the now-closed Blue Dogwood Public Market, which helped shape the local food hall scene.
Ownership and Future Plans
The property is owned by Jason Queen, a developer and co-founder of Monarch Realty Co. He also owns Mama Crow’s, one of the vendors within the food hall. According to available information, selling the food hall has always been part of Queen’s long-term strategic plan.
While the listing does not specify a sale price, real estate records from Wake County have appraised the property’s value at around $4.14 million. The sale was initially reported by a regional business journal, highlighting local interest in the transaction.
Following the sale, Jason Queen plans to redirect his focus toward urban development projects in Raleigh. His ongoing involvement in Raleigh’s growth reflects continued interest in shaping the city’s landscape.
Potential Impact
The sale of the Transfer Co. Food Hall could influence downtown Raleigh’s commercial and culinary scene. Its location, historic architecture, and established tenant mix make it a noteworthy asset. The property’s value, combined with its strong income base and potential for additional development, underscores its significance within the local real estate market.
As the market continues to evolve, the property’s future remains closely watched by industry observers and businesses seeking opportunities in the Raleigh area.
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Additional Resources
- News Observer: Raleigh Food Hall Listed for Sale
- Axios: Transfer Co. Food Hall for Sale
- ABC11: Raleigh Restaurant Week
- WRAL: Foodie News on New Bagels Location
- Raleigh Today: Yatai Market Seafood Fare
- Wikipedia: Raleigh
- Google Search: Food Halls
- Google Scholar: Food Hall Economics
- Encyclopedia Britannica: Food Hall
- Google News: Transfer Co. Food Hall
Author: STAFF HERE RALEIGH WRITER
RALEIGH STAFF WRITER The RALEIGH STAFF WRITER represents the experienced team at HERERaleigh.com, your go-to source for actionable local news and information in Raleigh, Wake County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the North Carolina State Fair, Raleigh Arts Festival, and the Hopscotch Music Festival. Our coverage extends to key organizations like the Greater Raleigh Chamber of Commerce and Visit Raleigh, plus leading businesses in technology and education that power the local economy such as Red Hat and NC State University. As part of the broader HERE network, including HEREAsheville.com, HERECharlotte.com, HEREGreensboro.com, and HEREOBX.com, we provide comprehensive, credible insights into North Carolina's dynamic landscape.
