This Retail Property is Off-Market.

5324 New Hope Commons Drive
Durham, NC 27707 ·

11,901 SF · Retail For Sale

N/A

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Indigo Corners Phase II

Price N/A Cap Rate 8%
Gross Leasable Area 11,901 SF Occupancy 100%
Property Type Retail Tenancy Multiple
Property Sub-type Strip Center Year Built 2009
Property Use Type Net Lease Investment with 9 years left on lease Lot Size 1.55 AC
Listing ID: 17349069 Date Created: 09/27/2011 Last Updated: 08/27/2012

Description

Indigo Corners Phase II is 100% leased and includes nationally recognized tenants, Mattress Firm and State Farm Insurance. It is located at the heavily trafficked intersection of Mount Moriah Church Rd and Route 15-501, directly off Interstate 40 at Exit 270. The Center is contiguous to a Wal-Mart regional shopping center consisting of Best Buy, Marshall's, Old Navy, Barnes & Noble, Dick's and Office Max. The established centers in the area with excellent locations, high visibility, and convenient access reveal secure occupancy rates and rising rents.

The Center is located in a sector of Durham that is experiencing strong commercial and residential growth. Durham's economy is driven by Duke University (13,000 students), Duke University Hospital & Medical Center, Duke's Children's Hospital & McGovern-Davison Health Center, and Research Triangle Park (RTP). RTP covers approximately 7,000 acres and employs nearly 40,000 people in approximately 60 research and development firms. The Center is located directly across the street from Patterson Place, a mixed-use development anchored by Target, Kohl's, Kroger, Total Wine, and Home Depot. When fully developed, Patterson Place I & II will comprise over 575,000 square feet of big box, junior box, shop retail and restaurants, along with a hotel and 100,000 square feet of office on over 52 acres of property.

Highlights

  • The Center is 100% leased with five tenants including State Farm Insurance and Mattress Firm
  • The Center is located directly across the street from Patterson Place, a mixed-use development anchored by Target, Kohl' s, Kroger
  • Patterson Place I & II will comprise over 575,000 square feet of big box, junior box, shop retail and restaurants
  • Indigo Corners is situated at the intersection of Mount Moria Church Road and Highway 15-501, directly off Interstate 40 at Exit 270
  • The Center is contiguous to a Wal-Mart regional shopping center consisting of Best Buy, Marshall's, Old Navy, Barnes & Noble, Dick's, and Office Max
  • Established centers with excellent locations, high visibility, and convenient access reveal secure occupancy rates and rising rents

Research

5324 New Hope Commons Drive, Durham, NC 27707 (Durham County)

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