Firm Overview Listings Shopping Centers Single-Tenant 1301 Exchanges
Rob Carter
704.379.1982 Office
704.379.1988 Fax
carter@berkeleycap.com
Alex Quarrier
704.714.2365 Office
704.379.1988 Fax
quarrier@berkeleycap.com
David Webb
7043791967 Office
7043791988 Fax
webb@berkeleycap.com
   
Durham Festival

OFFERING SUMMARY

Durham Festival Shopping Center is a well-established, grocery-anchored shopping center that is located in Durham, North Carolina. The Kroger anchored-center is 134,295 SF and 94% occupied.

SUBMARKET OVERVIEW

The Center is well positioned at the intersection of Hillsborough Road and Lasalle Street, in one of the most desirable areas of Durham. The Center is directly off of the heavily traveled Durham Freeway, Highway 15/501 Bypass and Interstate 85, giving Durham Festival great visibility and accessibility. Durham Festival is located next to Hillandale Golf Course, under a mile from the campus of Duke University and approximately five miles from downtown Durham.

 

DEMOGRAPHICS
   
  1 Mile Radius 3 Mile Radius 5 Mile Radius  
2013 Projection 9,094 60,685 143,479  
2008 Estimate 8,634 89,095 139,270  
Growth 2008 - 2013 5.33% 2.69% 3.02%  
Growth 2000 - 2008 7.90% 3.10% 3.62%  
2008 Average Household Income $41,389 $54,371 $53,973  
OFFERING MEMORANDUM & FILES
Durham Festival Argus
Durham Festival Offering Memorandum
 
Profiles
Name: Durham Festival
Size: 134,295 SF
Market: Durham, North Carolina
Year Built: 1960
Land Size: 11.19 acres
Roof: Health Club was reroofed in 2000; rest of shopping center was reroofed in 2004
Parking Lot: Parking lot was last sealed in 2005
Leasing Status: 94% leased
Debt: Free and Clear
   
Anchor Tenants Lease Expiration Square Feet
Kroger Nov 2013 59,970 SF
Millenium Sports June 2014 14,935 SF
   
NET OPERATING INCOME $1,116,224
   
CAP RATE 8.25%
   
OFFERING PRICE $13,530,000
©2006 Berkeley Capital Advisors - 831 East Morehead, Suite 650 // Charlotte, South Carolina 28202 // 704-379-1980
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