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Atlanta & Southeast  + Carolinas  + Retail  | 
Marcus & Millichap recently arranged the $4.6 million sale of Park Terrace in Durham, NC.

Marcus & Millichap Arranges $4.6M Sale of Durham Shopping Center

Marcus & Millichap recently arranged the $4.6 million sale of Park Terrace, a 24,813-square-foot retail property located in Durham, NC.

“Park Terrace is a well-located retail center near Interstate 40 and Research Triangle Park (RTP) in Durham,” said Andrew Margulies, senior vice president investments. “The asset had challenges, but the dynamic job growth in RTP and potential for long-term upside at this location is undeniable. Our strategic marketing approach to qualified investors who target this type of asset, yielded multiple offers and resulted in a closing at 94 percent of list price.” 

Margulies and Harrison Creason had the exclusive listing on behalf of the seller, a limited liability company based in California, and secured the buyer, a private partnership based in Virginia. 

Park Terrace was constructed in 1897 on 2.7 acres, consisting of 11 suites averaging 2,255 square feet. It was 95 percent leased at closing. 

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About Angela Noote

Angela Noote is a native of Northern California and graduated from Chico State with a degree in public relations. After college she moved to the Central Coast and worked first in ad sales then in editorial, eventually spending more than a decade as a print reporter and editor. She detoured into design work at a printer/publisher, and with a partner eventually opened a boutique full-service marketing agency. Moving into corporate communications, she built and managed several successful marketing teams in the hospitality, financial services, and nonprofit industries. Most recently she was an internal comms manager in the tech sector. After a long stint spent in Georgia (Go Dawgs), she moved to Baton Rouge, LA and has written for clients in the financial, luxury imports, higher ed, commercial cleaning, and medical equipment industries. Her son is a media arts major at the University of South Carolina, and her husband owns a comedy theater in Baton Rouge, where you can often find Angi teaching improv classes, leading corporate training events, or doing an occasional stand up set.

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