The office building at 107 Fayetteville Street in downtown Raleigh will reopen next month as space for startups that have outgrown the area’s co-working spaces.
MDO Holdings, which paid $1.22 million for the 13,125-square-foot building in March 2014, announced Monday that it has leased all of the space to four startups: Photofy, FilterEasy, 6fusion and Distil Networks.
The building was once home to the staff of Lawyers Weekly, among other tenants. MDO is the final stages of a complete renovation of the interior and exterior of the property.
MDO Holdings is the parent company of O2 Fitness Clubs, East Shore Athletic Clubs, MOREI and MDO Ventures. The company’s venture arm has invested in 12 companies, including Photofy and FilterEasy.
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MDO owns about 250,000 square feet of commercial space, including several other buildings in downtown Raleigh.
In a statement, Michael Olander, Jr., MDO’s CEO, said 107 Fayetteville Street is designed to be a transition space for companies that have outgrown co-working spaces such as HQ Raleigh and American Underground.