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

OFFERING SUMMARY

Located in a sector of Durham that is experiencing strong commercial and residential growth, Indigo Corners is situated at the intersection of Mount Moriah Church Road and Highway 15-501, directly off Interstate 40 at Exit 270.

Traffic counts are 56,000 VPD on Interstate 40 and 45,000 VPD on Highway 15-501 (Source: 2005 NCDOT).

SUBMARKET OVERVIEW

Indigo Corners offers an investor a unique opportunity to purchase a well-located, new construction shopping center with long-term leases in a high growth market. The Center is surrounded by employment centers, growing residential developments, and a strong tourist business due to the two nearby universities, which will in turn further enhance the returns for the new owner.

 

DEMOGRAPHICS
   
  1-Mile 3-Mile 5-Mile  
2011 Projection: 3,995 40,374 135,617  
2006 Estimate: 3,615 38,142 127,069  
Growth 2006-2011: 10.51% 5.85% 6.73%  
Growth 2000-2006: 14.54% 6.06% 8.02%  
2006 Est. Average HH Income: $80,775 $92,865 $75,725  
OFFERING MEMORANDUM & FILES
Indigo Corners Offering Memorandum
 
Profiles
  Map/Directions
Name: Indigo Corners
Size: 29,373 GLA
Market: Durham / Chapel Hill MSA
Year Delivered: 2007
Land Size: 5.825 acres
Leasing Status: 97% leased
Parking Spaces: 377 spaces
Debt: Free and Clear
   
Anchor Tenants Lease Expiration Square Feet
Verizon Wireless (4,000 SF) 12/14/11 N/A
Starbucks (1,610 SF) 9/30/15 N/A
FedEx Kinko's (2,000 SF) 12/14/11 N/A
   
NET OPERATING INCOME $783,306
   
CAP RATE 6.40%
   
OFFERING PRICE $12,239,160
©2006 Berkeley Capital Advisors - 831 East Morehead, Suite 650 // Charlotte, South Carolina 28202 // 704-379-1980
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