Erwin Terrace I & II
Mixed Use | 0.00% CAP | 105,055 SqFt
Marketing description
Erwin Terrace (the "Asset" or "Property"), is a mixed use Asset in Durham, North Carolina strategically located adjacent to Duke University and Duke University Hospital. This unique opportunity presents investors with 25 multifamily units, 26,584 SF of retail, and 39,296 SF of office space primarily occupied by Duke University. The project is currently well occupied with the multifamily 100% leased, retail at 100%, and office at 76%.
The asset is located in a fortress, irreplaceable location with secular long-term tailwinds driving demand for each respective portion of the property for the long term, and offers investors a generational opportunity to own a boutique mixed-use property in Durham.
Investment highlights
Directly adjacent to Duke University and Duke University Hospital
In-place, highly favorable mixed-use dynamics
Stable income from three product types
Prime value-add opportunity with ability to:
Renovate multifamily units
Enhance retail tenant mix
Increase office occupancy
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