Logan’s Garden Shop, a beloved retailer in downtown Seaboard Station in Raleigh, has sold their property and will be relocating in the years to come.
Logan’s has been operating at 707 Semart Drive for 30 years. The third-generation business owned one of the few remaining family-owned properties in the area since most of the Seaboard Station plaza was sold for $ 34 million to Washington, DC-based development firm Hoffman & Associates in 2018.
The family announced on Friday that they had sold their 2.9-acre site for $ 8.5 million to New York-based Turnbridge Equities in a sale-leaseback transaction that will allow Logan’s to operate on the property for a few more years.
“We are NOT selling the business,” the family said in a written statement to their loyal customers. “We are selling the Seaboard Station property to explore how best to adapt our business model to accommodate the growth we have seen, improve the customer experience, and create a sustainable business model for the future. “
Turnbridge – which owns several local properties, including the historic Dairy in downtown Raleigh and the NC Mutual Life Insurance Company building, known as the “Mutual Tower,” in downtown Durham – believes Logan’s will remain. in its Seaboard Station location until 2023 or 2024. The company has not announced any further plans for the site.
Last October, Hoffman & Associates announced that it would begin a massive $ 300 million overhaul of Seaboard Station. The reconstructed mixed-use community will have more than 130,000 square feet of retail and up to 650 new apartment units, The News & Observer reported.
The Logan family has not identified a future home for their garden store, said Josh Logan, who runs the store with his sister, Leslie. But the relocation will allow further expansion and continued community service.
“We will continue to serve our loyal customers with the same authenticity and unique shopping experience that our family has always offered them and will always offer them in the future,” said Logan.
This story was originally published 3 December 2021 1:10 pm.
CORRECTION: An earlier version of this story misidentified Josh and Leslie Logan, who run the store. They are brother and sister.
Corrected on December 3, 2021