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Pop-Up Shops at Martin Street

A pop-up retail space in Downtown Raleigh presented by Lenovo

For Minority- and Women-owned businesses, this effort by Downtown Raleigh Alliance, StartUp at Wake TechLM Restaurants and Lenovo will increase the presence, inclusion, and equity of business ownership in Downtown Raleigh.

Complete the interest form to be notified of upcoming application cycles.

INTEREST FORM

Will Gaskins, Vice President of Economic Development and Planning
Downtown Raleigh Alliance
(919) 821-6988
willgaskins@downtownraleigh.org 

(Above) Exterior façade of Pop-Up Shops at Martin Street - 17 E Martin Street

Current retail tenants:

Previous retail tenants:

Program overview:

Pop-Up Shops at Martin Street is a pop-up retail store program in Downtown Raleigh at 17 E Martin Street. This storefront location is available for pop-up retail tenants looking to share an affordable retail space with other up-and-coming retailers, participate in business counseling, and experience the Downtown Raleigh market.

The goals of the program are to:

  • Provide affordable retail space in a desirable location within Downtown Raleigh to Minority- and Women-owned businesses
  • Provide counseling opportunities for tenants to grow their business through StartUp at Wake Tech
  • Give tenants the opportunity for retail success in a storefront location, further boosting their confidence to sign a long-term lease within Downtown Raleigh

This is an ideal business opportunity if:

  • You have a retail business that you want to expand to a storefront location in Downtown Raleigh
  • You only need a small area to operate
  • You do not currently have a physical storefront location in Raleigh but have been considering opening one
  • You are welcoming, customer-service oriented, and willing to share space with other businesses
  • You are motivated and driven to grow your business through the counseling opportunities provided by StartUp at Wake Tech
  • You are motivated and driven to market and advertise your pop-up to generate sales and foot traffic
  • You are prepared to submit a business plan (including marketing plan and financial plan)

Location:

17 E Martin Street is positioned on a high foot traffic street within the center of Downtown Raleigh. The retail space is 1,230 square feet and boasts floor to ceiling windows for high visibility. It is surrounded by many popular restaurants, residential units, offices, and other nearby retailers.

Pop-Up Shops Interior Images

(Above) Interior images of Pop-Up Shops at Martin Street

Division of space:

The 1,230 square feet of retail space will be subdivided to accommodate two-to-four retail tenants at one time. Tenant floorplans will range from 300 to 600 square feet. Each tenant will sign a lease committing to a specific floor plan and square footage within the space.

Eligible businesses:

  • Minority- and Women-owned, retail businesses

Ineligible businesses:

  • Food or beverage businesses
  • Franchises
  • Businesses that already have a storefront location in Raleigh

Hours of operation:

Program tenants are required to staff the shop and be open during set regular hours of operation:

  • Wed - Sat (11am - 7pm)
  • Sun (11am - 5pm)

*Special, one-off circumstances, emergencies, and certain holidays not withstanding. It may also be permissible, if mutually acceptable, for co-tenants to make joint coverage arrangements for increased flexibility. However, DRA and program partners reserve the right to terminate the lease and program agreements in the event of repeated violation of this hours-of-operation requirement.

Lease term:

The standard, minimum lease is a six-month lease term. There may be the option to extend the initial lease for an additional 6-months, by invitation. We are unable to offer lease terms of less than six months. The lease calendar is as follows:

  • October 2022 - March 2023
  • April 2023 - September 2023

Pricing:

Tenant floor plans range from 300 to 600 square feet with tenant rent set at $10 per square foot per year (paid monthly) with an additional monthly CAM (common area maintenance) fee to cover common utilities. Rent and CAM fee combined will be approximately $400 - $800 per month, depending on the tenant’s square footage within the space. Rent and CAM fee include:

  • Basic utilities (water, sewer, electricity, trash pick-up)
  • Internet & Wifi
  • Monitored security system and always-on, remote-access camera
  • Weekly cleaning service

Security deposit:

A two (2) month security deposit is required at the time the lease is signed.

Criteria to apply:

  • A business tax ID
  • The business use must be retail
  • Applicants must complete the application and submit a business plan (including marketing plan and financial plan) by the application deadline

If accepted, tenants are required to do the following:

  • Commit to a 6-month lease term
  • Work full-time in their business
  • Staff the shop and be open during the hours of operation: Wed - Sat (11am - 7pm); Sun (11am - 5pm)
  • Provide a POS system and be able to process transactions (can be as simple as a mobile-device Square Reader)
  • Provide retail display infrastructure
  • Obtain basic business liability and property insurance for the use of the pop-up space
  • Share a pop-up location with other retail tenants and adhere to the tenant code of conduct agreement
  • Attend an orientation with Downtown Raleigh Alliance and StartUp at Wake Tech
  • Schedule and attend one (1) business counseling session per month through StartUp at Wake Tech for the duration of the lease term. Counseling is free and confidential.
  • Report monthly transaction numbers and sales numbers to Downtown Raleigh Alliance. This information will remain confidential.

Disclaimer:

While we have made every attempt to ensure that the information contained herein is accurate, Downtown Raleigh Alliance (DRA), StartUp at Wake Tech and LM Restaurants are not responsible for any errors or omissions, or for the results obtained from the use of this information. All information provided herein is provided with no guarantee of completeness, accuracy, or timeliness, and without warranty of any kind, express or implied, including, but not limited to warranties of performance, merchantability and fitness for a particular purpose. We strongly recommend you and/or your advisory team perform a thorough review of the included property to determine its compatibility with your real estate goals and specifications. In no event will Downtown Raleigh Alliance (DRA), StartUp at Wake Tech or LM Restaurants, their partners, agents, or employees be liable to you or anyone else for any decision made or action taken in reliance on the information herein.

Presenting Sponsor


Economic Development Program Sponsors


LS3P

TradeMark Properties