7 0 8 G I L B E R T S T R E E T | D U R H A M , N C 2 7 7 0 1H I S T O R I C D Y E M I L L

ADDRESS 708 Gilbert Street, Durham, NC 27701

PIN 0831-10-27-5295

SIZE 29,615 square feet

YEAR BUILT 1920 | Full exterior renovation in 2018

ZONING Mixed-use

ACREAGE 1.24 acres

PARKING 58 free surface spaces with additional parking available

SALE PRICE Call for pricing

LEASE RATE Call for pricing

f o r s a l e o r l e as eThis rare, free-standing, and nationally recognized Historic Dye Mill has been repositioned for mixed-use. Located in the Cleveland-Holloway historic district of east downtown Durham, within a prime Durham County Opportunity Zone.

The Gilbert’s exposed brick, timber infrastructure, and dramatic thirty-foot ceilings, give it a distinctly-unique look. Extensive exterior renovations completed in 2018, including new parking lot, roof, exterior windows, and covered patio. Substantial interior renovations currently underway with permits pulled for the construction of ADA restrooms and an elevator to access the second floor. Also included in the renovation are plans to refinish the historic hardwood flooring and install a new HVAC system.

Suitable for a single-tenant or combination of office, retail, and light industrial; The Gilbert’s current zoning allows for a wide variety of uses including: restaurant, bar, retail, medical office, office, and light industrial.

LOCATED IN A DURHAM COUNTY

OPPORTUNITY ZONE

DOWNTOWN DURHAM

WA L KA B L E t oDowntown Durham 0.6 miAmerican Tobacco Campus 1.0 miGolden Bel t Campus 0.6 mi

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AMERICAN TOBACCO CAMPUS

GOLDEN BELT CAMPUS

BRIGHTLEAF SQUARE

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SOLIS BRIGHTLEAF APARTMENTS

WHETSTONE APARTMENTS DURHAM BULLS

ATHLETIC PARK

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d ow ntow n d u r ha mDININGOPTIONS

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ENTERTAINMENTOPTIONS

HOTELOPTIONS

SUITE 1036,160 USF / 7,238 RSF

M I X E D - U S E

SUITE 1044,800 USF / 5,503 RSF

R E T A I L / R E S T A U R A N T / O F F I C E

M I X E D - U S E

SUITE 1021,060 USF / 1,246 RSF

SUITE 1013,684 USF / 4,329 RSF

R E T A I L / R E S T A U R A N T / O F F I C E

F I R S T F L O O R

Covered Patio

SUITE 2025,600 USF / 7,095 RSF

O F F I C E

SUITE 2013,318 USF / 4,204 RSF

O F F I C E

S E C O N D F L O O R

*An architectural catwalk will connect suites 201 and 202.

With a stable and diverse economy, Durham as a whole has seen considerable growth in recent years. The population of Durham’s metro is young, with more than a third of the population between the ages of 20 and 34, but the metro population has outpaced the national average with growth in every age bracket. Overall, Durham has seen its population increase roughly 20% in the last decade.

Major economic drivers include the medical-related industries and education systems located in Durham. Duke University, Duke Medical, and the University of North Carolina-Chapel Hill draw people to the area, and the substantial number of healthcare, tech, and financial jobs available in Downtown Durham keep them there. Employment growth in recent quarters has been more than triple the rate observed nationally as Durham’s employment growth has several times exceeded 3.5% annually.

To accommodate the growing workforce in Durham, there are multiple projects currently under construction and approximately 1 million square feet of office space expected to be delivered in 2020. One of the metro’s largest projects is 555 S Magnum Street, a mixed-use office/retail development, scheduled to deliver March 2020. The project contains about 252,800sf of space, more than 40% which is preleased to major tenants including the co-working firm Spaces and the U.S. headquarters for the online insurance marketplace firm Policygenius. Other projects include Innovation I, the 139,163sf office building located on Slater Rd in the Research Triangle and Erwin Terrace III, a 120,000sf building at 2812 Erwin Rd in South Durham.

With the population forecast for Durham’s metro showing a positive 1.6% increase over the next 10 years, more changes can be expected that will further transform and evolve Downtown Durham.

2019 POPULATION 321,913

2024 EST. POPULATION 352,302

MEDIAN AGE 35.5

HOUSEHOLDS 130,298

MEDIAN ANNUAL HOUSEHOLD INCOME $62,166

*Source: United States Census Bureau, ESRI STDB Survey

DURHAM COUNTY AT A GLANCE (2019)

D U R H A M M A R K E T O V E R V I E W

BEST U.S. CITY FOR STARTING A BUSINESS INC. MAGAZINE (2020)3NO

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AMERICA’S FOODIEST SMALL TOWN IBON APPETIT (2018)1NO

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