Tuesday, April 01, 2008

Dukies buy Another Historic Property: Durham Bank Building Deal Summary

Name: Mutual Community Savings Bank Bldg
Price: $2.4M ($60/SF)
Size: 40,000SF
Address: 315 E. Chapel Hill St., Durham
Buyer: CREH Mutual,LLC
Seller: Mutual Community Savings Bank

Note: Owners plan $1.6M ($40/SF) in renovations.
The buyers, all Duke alumni are same group that purchased the Snow Building on Main St in January. Investor group includes Carey Greene, Gavin Gray, Travis Pearson and Duane Marks.

Maverick Partners represented the buyer.

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