Finding Figulina’s Home

by Lauren Kruchten | Apr 9, 2024 | April 2024, Buzz

Elm Partners is investing in building up Raleigh by putting good people in good places.

When Humble Pie announced last fall it was closing its doors after 33 years of business, Raleighites were heartbroken—and left posturing what could possibly take its place. But there was always a plan for the building. … Enter Elm Partners, a local full-service commercial real estate firm founded on the simple goal of “making Raleigh better.”

One such instance—and a full-circle moment—Ashley Christensen approached Elm to assist Poole’s then-chef de cuisine David Ellis in opening his own restaurant. At about the same time, Jim Beriau reached out with the sale of Humble Pie, where Christensen incidentally got her first industry job working as a prep cook. 

“We raised a bunch of money through friends and family, structured a payback model for Dave, and it worked,” says Elm Managing Partner Nick Wilson, who ultimately helped secure the serendipitous space and assembled the design and construction team for a new concept Raleigh has already rallied behind. “We’re really just trying to put good people in good places. That’s the most important thing to us—and Figulina is the perfect example of that.”

“We feel quite fortunate to have found Nick Wilson and the Elm Partners group at the beginning of our restaurateur journey. What sets Elm Partners apart is not just their ability to find spaces, it’s their genuine investment in the success of their clients and their impact on the community. They didn’t just hand us the keys to a new location; they opened doors to endless possibilities, offering invaluable insights and support every step of the way.”

David Ellis, chef/owner, Figulina

The deal also perfectly encompasses his and partner David Meeker’s inspiration for starting Elm Partners in the first place—just a pair of pals/neighbors “helping friends get better real estate deals.” Clearly tapping into a need, business blossomed, and now the duo represents buyers, tenants and development properties across Raleigh and Durham—mostly by word-of-mouth thanks to their vast Rolodex of connections in the local food and bev world.

“Folks like Ashley Christensen, Caroline Morrison of Fiction Kitchen, Kim Hammer of Bittersweet and Andrew Cash of Jubala got behind us early on, and that allowed other folks to trust us,” reflects Meeker. “We can’t thank them enough for their early belief in us.”

Unlike your standard brokerage firm, Wilson approaches deals from a consumer POV, thinking long and hard about good fits for each client. “All those food and beverage people, they’re kind of like artists—they’re really creative—and it has to feel right to them,” he says.

Beyond Figulina, Elm’s successes include East Bower Cider Co., Mala Pata, Tepuy Donuts, both Dose Yoga locations, Beatniks, Copperline Plant Co. and The Optimist’s upcoming location at The Exchange—to name a few. 

“They really care about us as owners/operators and want us to succeed on a personal level, knowing that a rising tide lifts all boats,” says Mala Pata’s Marshall Davis of their partnership with the brokerage. “It feels good to work with folks who share some history with me as a native and see the city’s potential in a healthy way. They understand our vision—and that gives me confidence.”

So while some people may see the closing of iconic Raleigh havens like Humble Pie as a sign Raleigh is “dying” or “losing its soul,” Wilson sees them as openings of opportunity for a new wave of talent. 

“It’s important to me to backfill these spaces that are important to people in Raleigh,” says Wilson. “There’s a lot of creative people out there who want to do cool things, and they’re gonna do them—it’s just about: How do we make them happen?”

A committed crew, Meeker and Wilson—along with Elm VP Jeremy Deckelbaum (who represented Dose and YogaSix’s Bloc[83] location, and was Elm’s first employee) and associates Blaine Smith, Matt Tomasulo and Paul Siler—already have a ton of new deals and projects in the works for this year and beyond (Wilson hints they’re currently in talks with Jubala, Benchwarmers, Trophy Brewing and others).

“We believe in Downtown Raleigh when a lot of people are hesitant,” emphasizes Meeker. And Raleighites are certainly benefiting from that belief. As Wilson says, chalk it up to “another one by Elm Partners.” elm.partners