This is for ACCREDITED INVESTORS ONLY.
We are acquiring an existing 12,000 sq ft retail building and adjacent vacant lot, and expanding and redeveloping this project into a 17,000 sq ft trendy neighborhood gathering center. The projected holding period is an attractive 4 year term. Entitlement is 90% complete already, and we expect to break ground on the expansion 30 days after closing of the purchase.
This center will feature local service industry tenants, and our targets include local restaurants, breweries, a dentist, and a veterinary clinic.
Our partner is a Raleigh born and raised native, with 26 years of commercial real estate development experience predominantly in the Raleigh-Durham market.
Durham is located in the Research Triangle (term originally coined in the 1950’s from being the home to numerous high-tech companies), which includes three major research universities, North Carolina State University, Duke University, and University of North Carolina at Chapel Hill, as well as the cities of Raleigh and Durham and the town of Chapel Hill. The Research Triangle Park is home to over 200 companies (including the second-largest IBM operation globally, Cisco, and NetApp) employing over 60,000 workers.