When Hunter Diefes began working as development manager at Atlas Stark three years ago, the Raleigh-based company had a staff of just six. Today that number is 16 as Atlas Stark has become a go-to name in adaptive reuse real estate in the Triangle.
“We’ve grown quite a bit,” says Diefes. Among the projects keeping him busy right now is readying “535 Warehouse” on South White Street to be Downtown Wake Forest’s newest commercial destination. Atlas Stark acquired the property formerly known as the Welsh Warehouse in 2021 and launched plans to use its almost two acres to help catalyze the south end of Downtown.
“We’ll be finishing up the shell here in a couple of months,” Diefes says of the 16,200-sq.-ft. building. The company has now completely leased the space, and several new tenants should be operating by early fall. Atlas Stark’s initial vision for the property was for a food hall, but plans fell through when a prospective tenant backed out, prompting the company to re-work its plans with multiple tenants in mind. The building’s age – it was constructed in 1962 – also led to unanticipated engineering issues. “It’s an old building,” says Diefes, who anticipates all tenants will be operating by early next year. “The long and short of it is we’ve recently leased out the remaining space in the building,” he adds. “So, we will be full.”
Among the initial occupants of the 535 Warehouse are Cardinal Bar, Lil Hombre, and Pure Barre.
Cardinal Bar has been a popular spot for food, drinks, and live music in downtown Raleigh, near Atlas Stark’s office. More recently, the establishment has opened locations in Clayton and Wilson. Lil Hombre will offer “smoked” tacos along with beer and hand-crafted margaritas. It will be the business’s second location. Pure Barre is a group fitness franchise with about 600 U.S. locations. The studio’s low-impact workouts focus on intense small-range movements with light weights, enabling its mostly female clientele to hone muscular definition.
Another national wellness franchise, MassageLuXe, will also reside at 535 Warehouse. Based in St. Louis, the high-end provider of massage therapy currently has Triangle locations in Apex and north Raleigh. Rounding out the tenant list will be a pediatric autism therapy practice that intends to take about 7,000 sq.-ft. of the building, Diefes says, noting the business requested their name not be publicly announced yet.
Atlas Stark is also making significant improvements outside the building, creating a wraparound porch that will offer outdoor seating for diners and customers. Some green space will be located near Cardinal Bar. “We’ve been working with the Neuse River Hawks Conservationists to swap out trees and shrubs with native species to help facilitate a habitat for hawks,” Diefes says. The company is also putting in “green” stormwater systems to collect and filter rainwater. A new ADA-approved sidewalk will connect the property to the adjacent Northern Wake Senior Center, a newly re-opened hub for classes and programs for the town’s older residents. Discussions are underway between Atlas Stark and Town officials on a possible new park space along the property’s south side.
“The Town has been phenomenal to work with,” Diefes says. He reports near daily contact with Senior Planner Patrick Reidy. “Patrick has been a big proponent of turning things around immediately,” he says. Assistant Inspections Director Tim Edwards has also been supportive in his interactions on the 535 project. “He’s been great to work with on that front,” Diefes says. He also cites the assistance of WFBIP’s Jason Cannon. “Jason has been a huge supporter of the project,” he says. Central to his collaboration with Town leaders is ongoing communication. “Some municipalities are more difficult to work with than others, but Wake Forest has been very communicative,” Diefes says.
Atlas Stark is currently working on a project with State Employees’ Credit Union (SECU) in Raleigh’s North Hills area, as well as an 11.5-acre project at Knightdale Station in eastern Wake County and a medical office park in the Town of Clayton in nearby Johnston County. “We’re open to opportunities within an hour of Raleigh,” Diefes explains. The company is also interested in additional development projects in Wake Forest. “We’re on the hunt in Wake Forest, but there’s nothing concrete right now,” he says. “We’re actively looking.”
WFBIP President Jason Cannon anticipates 535 Warehouse will shift Downtown Wake Forest’s commercial center of gravity southward. “When paired with The Loading Dock Wake Forest and the Northern Wake Senior Center, we’ll definitely see more activity along South White Street,” Cannon says. Atlas Stark’s significant work on the project is an exciting move toward bringing more adaptive reuse projects to the Town, preserving the community’s vivid past as it emerges as a 21st-century destination for businesses and people. “Our downtown is critical to our local economy, and it takes very special companies like Atlas Stark to invest here in a way that yields mutual benefits. We’re grateful for their partnership and look forward to the continued growth and progress ahead,” adds Cannon.
