MULTI-TENANT BUILDING FOR SALE

Transcription

1 206 BROADWAY LEASED STREET MULTI-TENANT FACT SHEET BUILDING FOR SALE DOWNTOWN DURHAM CENTRAL PARK DISTRICT DURHAM, NC HOME OF DURTY BULL BREWING DUKE UNIVERSITY 17,864 SF.79 acres 24 parking spaces DURHAM BULLS STADIUM AMERICAN TOBACCO CAMPUS DUKE UNIVERSITY EAST CAMPUS CONTACT DURHAM PERFORMING ARTS CENTER ONE CITY CENTER DURHAM CENTRAL PARK DURHAM INNOVATION DISTRICT MARCUS JACKSON (919) (Direct) (919) (Mobile) W. PETTIGREW STREET THE LOOP LIBERTY WAREHOUSE APARTMENTS HISTORIC DURHAM BULLS STADIUM MOTORCO FULLSTEAM BREWERY SITE MANGUM STREET LITTLE FIVE POINTS ROXBORO STREET

2 SITE AERIAL HISTORIC DURHAM BULLS STADIUM MOTORCO LIBERTY WAREHOUSE APARTMENTS FULLSTEAM BREWERY SITE DURHAM INNOVATION DISTRICT FOSTER STREET DURHAM CENTRAL PARK ONE CITY CENTER EE. MORGAN STREET RAMSEUR STREET AMERICAN TOBACCO CAMPUS FUTURE PHASE AMERICAN TOBACCO CAMPUS DURHAM PERFORMING ARTS CENTER BLACKWELL STREET DURHAM FREEWAY DURHAM BULLS STADIUM MANGUM STREET W. PETTIGREW STREET ROXBORO STREET ONE CITY CENTER

3 DOWNTOWN DURHAM RETAIL STORES 60+ STARTUPS 300+ DOWNTOWN EMPLOYEES 100+ INVESTMENT SINCE 2000 $1.7 BILLION 95% OFFICE OCC. RATE 17,500 2,500 NEW RESIDENTS RESTAURANTS AND BARS Currently the city is building a new police headquarters and undergoing a major library renovation to total over $100 million. Since 2012, there have been about 3,000 new urban apartments added to the current Class A inventory of 3,971, while yet another six major projects are under construction on 1,388 additional units. Class A urban vacancy is currently at 12.5%. The office market totals 3.9 million SF with a current vacancy of 6.1%. Parking has been highly constrained, but the city has recently built a new deck near Brightleaf Square which delivered 544 spaces last year. Another deck is under construction on the border between the downtown core and the Central Park District with 664 new spaces to deliver in A third deck of 820 spaces is being planned in the Durham Innovation District, while a forth deck of 1,000 spaces is proposed in the block of E. Main Street. The hotel market has exploded to 716 rooms, including three prominent boutique hotels. Restaurants, retail shops and bars have nearly doubled since 2010 with 80 restaurants today along with 27 retail shops and 62 bars. A big driver of success is the Durham Bulls AAA baseball team and Polstar s ranking of DPAC as the 4th best performing arts center in the country, and the top 5 globally, in attendance.

4 THE CENTRAL PARK DISTRICT Surrounding Central Park is an amazing array of urban fabric: To the south, less than a 5-minute walk, is the core of Downtown Durham. To the west is the Durham Innovation District, a 15-acre master plan primarily targeted at pharma and biotech entrepreneurs. It includes an array of historic buildings, including the headquarters for Measurement Inc. and its 400 employees. Recently a historic building was renovated and deployed as a $90 million lease for Duke University. And twin office/lab buildings totaling 320,000 SF are under construction and predominantly pre-leased. To the East is Little Five Points, a historic African-American mixed-use village that is starting to go through its own renaissance. To the north is a historic residential neighborhood. Within Central Park, there has been hyper growth that started with the Historic Durham Athletic Park, the Farmer s Market, and a number of early entrepreneurs that started to produce street life. Recently, a new Class A apartment community called Liberty Warehouse was built and sold for about $69 million. Another 164 unit apartment community called Foster on the Park is under construction adjacent to the Farmer s Market. A significant stock of the industrial buildings have been converted to retail and mixed-use. The subject of this flyer, 206 Broadway, was purchased in 2015 from an owner/occupant and has been a case of exceptional asset repositioning to mixed-use with new building infrastructure in place.

5 THE CENTRAL PARK DISTRICT Central Park is one of seven districts in Downtown Durham and is a high energy destination for a wide range of activities, and better yet, it is rich in history, first as a tobacco warehouse district. Downtown Durham is nationally known for many reasons, one of which is the Durham Bulls minor league baseball team. Founded in 1902 as the Durham Tobacconists, the team changed their name to the Bulls in 1912 and played in the Old Durham Bulls Athletic Park from 1926 to DURHAM BULLS ATHLETIC PARK - CURRENT HOME OF THE DURHAM BULLS In 1995 Capital Broadcasting Company, the team owner, built a new stadium (shown above) in the American Tobacco complex. The Historic Durham Atlantic Park is still active in Central Park as the home for the North Carolina Central University baseball team, and was a major setting for Bull Durham, the popular movie starring Kevin Costner and Susan Sarandon.

6 PROPERTY INFORMATION Durty Bull Brewing occupies 6,305 SF with a layout that includes refrigeration, production, distribution and a tasting room Bootstrap Brands, a dot com distributor occupies 6,059 SF in the basement, which has new electrical and HVAC Spin Bikes, a bike share company, is on a month to month lease in the vacant office finished out space of 5,500 SF A negotiation is underway for a dot com retailer to take 3,900 SF of space for distribution use. Spin Bikes will remain in the front facing 1,600 SF New roof, fully sprinkled on both levels with back flow preventers. HVAC is in good working order; three phase power Brick façade and clear heights to bottom of rafters at about thirteen feett throughout the main level Basement level clear height is at 11 feet Zoned DD-S2 SALES PRICE: $3,900,000

7 FLOOR PLANS MAIN LEVEL BASEMENT LEVEL EXPLOSION PROOF ROOM BROADWAY STREET 6,059 SF WAREHOUSE 11 CEILING HEIGHT, SPRINKLERED NORTH STREET

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