The property is a collection of parcels that includes a historic mill building converted to half office and half apartments, several retail assets (including a brand new Harris Teeter grocery store which opened in 2014), a separate one-story office building, and a parking lot. Duke has tenanted the historic office building for more than 20 years, and the apartments have served as de facto housing for Duke graduate students, maintaining almost 100 percent occupancy since opening.
The various parcels stretch almost a full block and form a critical mass of real estate assets at the epicenter of Ninth Street, Duke University’s primary commercial drive. Ninth Street is directly adjacent to Duke’s East Campus and less than half a mile from Duke’s West Campus and Duke Medical Center. The surrounding area is populated by Duke students and employees and is considered among the most attractive and most centrally located off-campus residential communities.
Ninth Street is an irreplaceable commercial corridor, serving as the main restaurant, shopping, and off-campus residential district for Duke University students and faculty. Duke’s role as one of the nation’s leading universities, the continued growth of Duke Medical Center, and the emerging creative class in Durham combine to ensure the stability and demand for all types of real estate in the immediate area.
Partner: Chartwell Property Group
Property Type: Mixed Use
Square Footage: 75,000 Square Feet of Office; 56 Apartments; 85,200 Square Feet of Retail