JLL Income Property Trust Sells Retail Property In Durham, NC For $14.5M

The retail property located at 3616 Witherspoon Blvd in Durham, NC was recently sold. The property encompasses a total area of 25,000 square feet and was sold for a price of $14,500,000, resulting in a price per square foot of $580. The transaction took place on July 26, 2022. The seller of the property was JLL Income Property Trust.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $14,500,000
• Address: 3616 Witherspoon Blvd, Durham, NC
• Market: Durham, NC
• Square Footage: 25,000
• Price per Square Foot: $580
• Seller: JLL Income Property Trust

This sale was facilitated by JLL Income Property Trust, who served as the seller's representative in the transaction. The deal highlights the strong demand for retail properties in the Durham market. It demonstrates the attractiveness of properties like 3616 Witherspoon Blvd, with its prime location and significant square footage. The sale price of $14,500,000 reflects the value placed on this asset by the buyer.